Washington Dispatch, March 2008

US Issues Long-Awaited Proposed Contract Manufacturing Regulations -- IRS Issues Supplemental Directive on Section 367 Issues Involving Possessions Corporations -- PLR Concludes FX Gains on Debt Qualifying REIT Income -- IRS Addresses Reciprocal Exemption for Intl Operation of Ships / Aircraft -- DCL Rules Applicable to Foreign Sub Whose Domestic Status Terminated -- US, Bulgaria Sign New Tax Protocol to Amend Pending Treaty -- US-Canada Protocol Moving Forward -- PLR Concludes Dividends / Interest From Certain Canadian Funds Exempt Under US-Canada Treaty