2206002 Informal Interpretation

She inberg, Samuel I.
From: 	HSRHelp
Se nt: 	Tuesday, June 21, 2022 2: 18 PM
To: 	Wa lsh, Kathryn E. ; Berg, Ka ren E. ; Musick, Vessel ina ; Sheinberg, Samuel I. ; Six, Anne; Wh itehead, Nora;
Fetterman, Miche ll e
S ubj ect : 	FW: HSR Gu idance Request
From : Shaffer, Kr istin <ks haffe r@ ftc.gov>
Se nt : Tuesda , June 21, 2022 2: 18:25 PM
To:
Cc:
Sul>J e
We do not view agreeing to leases via email as automatically r esu lt ing in the lease being entered i nto outside of the US.
-The company wi ll need to determ ine whether those l ease s were signed by US- located US entit ies (as distingu ished from
US -ow ned, foreign-located entit ies ).
Best regards,
Kr istin
Kri st in Sh affer
Attorney
Pr emerger Notificati on O ffice
Federal Trade Commi ssi on
202-32 -
From:
Se nt : Thursda y, June 16, 2022 12:10 PM
To: HSRHe lp <HSR Help@ftc.gov>
Cc :
Subject : HSR Gu idance Request
Dea r PNO Team :
We w rite to confirm the treatment of revenues derived from l eas ing of phy sica l as set s where su ch assets are not located
in the same place w here the lea ses them selv es are serviced or managed .
We represent Company A that deriv es 100% of its revenue from lea si ng of movable, phy sica l as set s in the form of
foreign-flagged v es sels. Company A manages and services its l ease s out si de of the United States. No pa y ment is
ac cepted in the Un ited States, and Company A does not maintain an offi ce in the Un ited States. Some of Company A's
customers are located in the United States, but Company A' s leases are agreed to by email. Notw ith standing where
Company A manages its leasing operations, Company A' s vesse ls may enter the United States ter ritory as part of some
leasing arrangements.
Curr ent interpretations provi de that revenue from services is attr ibuted to the count ry where se rvi ces are perfo r med,
regard les s of ident it y of the customer. See PNPM No. 155; Informa l Interpretation No. 1405003; see also Informal
Interpretation No. 1601001 (sh ip l ease s are c ont racts to provi de a servi ce ). As such, Company A's revenue w ould be
a ll ocated to the locations w here it manages and services it s l ease s of it s v es sels. We wri te to confirm th is is still the
PNO 's cur rent po si tion .
Please let us know if you have any questions or if there is any additional information that may be helpful in responding to
this in ui 	.
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