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Yahoo faces setback on tax conditions for Alibaba spin-off

Wednesday 9 September 2015 | 09:29 CET | News
The US tax service has rejected a request from Yahoo! for a special ruling on its proposed spin-off of its Alibaba shares into a new company. Yahoo announced in January plans to form the new company Aabaco for the stake and issue shares in Aabaco on a pro rata basis to existing Yahoo stockholders. In February Yahoo asked the Internal Revenue Service for a private letter on whether the Aabaco transaction met the conditions for avoiding tax on the distribution to shareholders. Following an announced review of the relevant tax rules, the IRS informed Yahoo 02 September that it would not grant

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Categories: Internet
Companies: Alibaba / Yahoo!
Countries: United States
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