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District of Columbia acts to repeal tax haven list

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The District of Columbia City Council has enacted emergency legislation repealing a list of designated tax havens intended to broaden the reach of the District’s combined reporting provisions after only being in effect for less than two weeks. Originally enacted by the Fiscal Year 2016 Budget Support Act of 2015, the tax haven list was met with contention from the business community as well as representatives from countries identified on the tax haven list. The emergency legislation, entitled the Fiscal Year 2016 Second Budget Support Clarification Emergency Amendment Act of 2015, repeals the tax haven list from the FY 16 budget as amended by Act 21-148.

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