Layla Asali commented on the Department of the Treasury's announcement regarding its review of tax regulations in response to Executive Order 13789. Asali said that Treasury's announcement that it will substantially revise regulations under section 367 is a welcome development. According to the report, Treasury and the Internal Revenue Service (IRS) are "actively working to develop a proposal" to reinstate the application of the active trade or business exception to section 367(a) to foreign goodwill and going concern value, consistent with longstanding practice, while addressing the administrative difficulties that existed under the prior regulations. "The concerns that animated the 2016 regulations were administrative — that is, that the IRS had difficulty in identifying and valuing section 936 intangibles. And in my view, the underlying policy animating the active trade or business exception for decades was not questioned by the preamble to the 2016 final regs and the proposed regs before that," she said.