International Taxation Issues Still Problematic

Prysock, Mark
September 2002
Financial Executive;Sep2002, Vol. 18 Issue 6, p75
Academic Journal
This article reports on the international tax provisions in the U.S. Although the U.S. taxes corporations and individuals on income made outside the country, there is two methods for avoiding double taxation. The first is a limited deferral of the U.S. taxation of active income earned abroad until it is paid to the U.S. parent company, and the second method is foreign tax credits for income tax paid to a foreign country to offset, at least partially, the U.S. tax on the same foreign income. However, the complicated tax policy has hindered U.S. multinationals but efforts to rectify this have run afoul of the World Trade Organization.


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