Offshore Funds Seek Tax Benefit
Submitted by madnotes on May 22, 2008
- Category: Business
- Words: 299
- Pages: 2
- Views: 411
- Popularity Rank: 1303
Offshore Funds Seek Tax Benefit
Offshore hedge funds are eager to buy up the billions of dollars worth of delinquent loans that banks want to offload and are looking to avoid US taxes. A favorable ruling could add a great deal of liquidity to the mortgage market, and make the tax benefits permanent; however these offshore funds have been controversial in the past. The funds hope to purchase the loans, renegotiate with the help of laid off employees in the mortgage sector, and then sell the loans for profit later. However because of the sheer volume of the loans, the funds are worried they will be targeted as active lenders and not passive investors and forced to pay a number of taxes such as U.S. Corporate Income Taxes,...
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