Radical US tax proposals could snare structured products in mark-to-market net

The taxman cometh

trap

The first quarter of this year has brought a bombshell from Capitol Hill that could cause structured products bankers to remember 2013 as the year when tax issues took centre stage in the industry.

Released on January 24, US representative Dave Camp's financial products tax reform discussion draft argues for the greatest overhaul in the taxation of financial products ever to hit the US. Long the pipedream of academics, the draft envisions uniform mark-to-market treatment of derivatives, includin

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