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Lecture International accounting (3/e): Chapter 11 - Timothy Doupnik, Hector Perera

Chapter 11 - International taxation. Taxes and international business decisions; differences in national corporate tax and withholding tax regimes; overlapping tax jurisdictions and double taxation; foreign tax credits; controlled foreign corporations, subpart f income, and foreign tax credit baskets; tax treaties; foreign currency translation for tax purposes; tax incentives. | Chapter Topics Taxes and international business decisions. Differences in national corporate tax and withholding tax regimes. Overlapping tax jurisdictions and double taxation. Foreign tax credits. Controlled foreign corporations, Subpart F income, and foreign tax credit baskets. Tax treaties. Foreign currency translation for tax purposes. Tax incentives. Learning Objectives Describe differences in corporate income tax and withholding tax regimes across countries. Explain how overlapping tax jurisdictions cause double taxation. Show how foreign tax credits reduce the incidence of double taxation. Demonstrate how rules related to controlled foreign corporations, subpart F income, and foreign tax credit baskets affect U.S. taxation of foreign source income. Describe some of the benefits provided by tax treaties. Explain and demonstrate procedures for translating foreign currency amounts for tax purposes. Describe the tax incentives provided by countries to attract FDI and stimulate exports. The location of international investments is affected by relative tax rates in the alternative countries. The decision about the legal form of the foreign operation, branch or a corporation, is dependent on differential tax treatments. Method of financing, debt or equity, is affected by the rules governing taxation of interest and dividends in the host country. Types of Taxes Corporate income taxes are direct taxes on business income. These are imposed by most governments. The tax rates vary from zero percent in tax havens to over forty percent. Another type of taxes are withholding taxes. Withholding taxes are taxes on dividends and some other amounts paid to foreign citizens. Learning Objective 1 Corporate income tax rates Significant variation in tax rates worldwide provides a distinct tax planning opportunity. Some countries tax at different rates based on the type of activity or nationality of the company owners. In addition to variation in tax rates, there is also variation | Chapter Topics Taxes and international business decisions. Differences in national corporate tax and withholding tax regimes. Overlapping tax jurisdictions and double taxation. Foreign tax credits. Controlled foreign corporations, Subpart F income, and foreign tax credit baskets. Tax treaties. Foreign currency translation for tax purposes. Tax incentives. Learning Objectives Describe differences in corporate income tax and withholding tax regimes across countries. Explain how overlapping tax jurisdictions cause double taxation. Show how foreign tax credits reduce the incidence of double taxation. Demonstrate how rules related to controlled foreign corporations, subpart F income, and foreign tax credit baskets affect U.S. taxation of foreign source income. Describe some of the benefits provided by tax treaties. Explain and demonstrate procedures for translating foreign currency amounts for tax purposes. Describe the tax incentives provided by countries to attract FDI and stimulate .