Multinational corporations face different tax systems in
different countries that require careful tax planning. A systematic
approach is needed to minimize and avoid unnecessary business
taxes. Some core issues of international taxation are part of a
successful corporate tax plan in an international context. The
first issue is a good understanding and appreciation of the
principles of international taxation that include the different
philosophies of taxation, the different kinds of taxes, the
different tax systems, the different tax treaties and potential tax
havens. The second issue is a thorough understanding of U.S.
taxation of foreign income to avoid double taxation and the
computation of foreign tax credits. The third issue is the choice
of a transfer pricing method and the compliance with tax
regulations on both the transfer of tangible and intangible assets.
The fourth issue is the intelligent use of tax vehicles for
exporting which can generate substantial savings and reduce the
effective tax rate and involve the choice between the
interest-charge domestic international sales corporation and the
foreign sales corporation. A final issue is the efficient use of
value-added taxation for activities taking place outside the U.S.,
and a new appreciation of the potential of this form of taxation
for the United States. Practicing accountants, academics, business
executives, students, legislators, and others who want a better
understanding of the complex issues of international taxation will
be interested in this book.
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