Contract manufacturing : the goalposts move - fair play or foul?

Journal
Metcalfe, Y.
United States
Bulletin for International Taxation 1999 (Volume 53), No. 1
FormatPDF
EUR
40
| USD
45
(VAT excl.)

On 18 November 1997, the US Treasury Department issued Rev. Rul. 97- 48 and thereby revoked Rev. Rul. 75-7, stating that the Internal Revenue Service will follow the Tax Court decisions in the cases of Ashland Oil v. Commissioner and Vetco, Inc. v. Commissioner effective 18 December 1997. This article analyses the issues presented by Rev. Rul. 97-48.