Today's word: LOOK THRU
Theme for this fortnight: DIVIDENDS
Theme for this fortnight: DIVIDENDS
A complex provision defined in
section 954(c)(6) of the U.S. Internal Revenue Code that lowered taxes for many
U.S. multinational companies. The look thru rule gave qualifying U.S.
multinationals a lower global effective tax rate by providing a special
accounting method for calculating taxes owed on income from controlled foreign
corporations. The rule was originally effective from Jan. 1, 2006 through Dec.
31, 2009, but the 2010 Tax Relief Act extended the rule through Dec. 31, 2011.
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