Strategizing International Tax Best Practices – by Keith Brockman

US Tax Act: Foreign earnings

As a further update to the US Tax Act, SEC has provided a 1-year window to provide a reasonable estimate with continual true-ups for a 1-year period to finalize the complex tax accounting effects.  Note that APB 23 is still alive, which has prompted several questions on its application against the background of the deemed repatriation transition tax.

The Act will significantly change earnings disclosures in the near future and the US debt market where debt may be more expensive due to interest limitations.

EY’s update provides details and relevant links for reference.

http://www.ey.com/Publication/vwLUAssets/Report_on_recent_US_international_tax_developments_-_29_December_2017/$FILE/2017G_07177-171Gbl_Report%20on%20recent%20US%20international%20tax%20developments%20-%2029%20December%202017.pdf

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