Senate investigators found that Apple paid little or no corporate income tax to any national government on tens of billions of dollars in overseas income over the past four years.
It would require multinationals to pay tax on foreign income as it is earned, ending the practice known as deferral where overseas income is not taxed until it is brought home.
FORBES: There They Go Again: The 'People's Budget' And High Tax Rates
The bottom team in the Premiership earns around 40 million pounds in United Kingdom and overseas broadcast income, compared to 3 million pounds in the Championship.
FORBES: Soccer's Premiership Teams Fight For Riches With Promotion And Relegation
The Senate inquisitors aren't accusing the tech companies of doing anything illegal but of cleverly exploiting loopholes in U.S. tax laws that allow them to shelter income overseas.
Also, consider using funds to get overseas fixed-income exposure.
And he warned that the loss of income from overseas students "throws into jeopardy the future of the university".
They not only indicate the degree of forex intervention in China, but also the size of Chinese official investments in fixed-income markets overseas, most notably into U.S. Treasurys.
Such a tax code actively discriminates against U.S. workers and smaller corporations which cannot afford the high priced lobbyists and accountants or employ overseas entities to shelter income.
FORBES: The Choice Of 2012: Obama Austerity vs. Romney Growth
Gitanjali already derives 60% of its income from overseas operations.
FORBES: India's Gold Merchants Fight to Regain Their Glitter
Romney would seek to drop the corporate rate and cease taxing corporations on income earned overseas, which some argue would eliminate the quandary posed by foreign profits being locked up abroad.
FORBES: Obama Vs. Romney: What This Election Means For Investors
Currently, dual-capacity tax treatment allows our energy companies an exemption from U.S. income taxes on the revenue they generate overseas, thus protecting against double-taxation of that foreign income.
FORBES: Obama Tax Proposal Hands China The World On A Platter
Florida is also frequently chosen as a legal residence by servicemen and women stationed in other states and overseas because it lacks a state income tax.
Romney would shift the corporate tax to a territorial system in which domestic firms owe no U.S. income tax on their overseas sales but foreign firms pay U.S. tax on money they make here.
FORBES: The 10 Biggest Differences Between The Romney And Obama Tax Plans
If one keeps the profits overseas, then one avoids the second income tax.
FORBES: Holiday Season Is Just Around The Corner -- Corporate Tax Holiday Season That Is
While he offered no detailed answer, other than to suggest finding ways of pricing drugs overseas based on a nation's income, his question should be taken to heart by the Administration's trade policymakers.
Postgraduate courses have become an important source of income for universities, particularly from overseas students.
Most countries begin to send large numbers of tourists overseas only when the average citizen has a disposable income of five thousand dollars.
Companies can avoid paying the 35% U.S. corporate income tax on earnings they keep and invest overseas.
FORBES: Senate Report Details HP & Microsoft Offshore Tax Ploys
And it would require firms to pay taxes immediately on income they earn from importing products they make overseas.
This provision currently grants our multinationals an income tax deduction on the revenue they generate overseas, thus avoiding double-taxation.
The company said it pays local taxes on overseas earnings and U.S. taxes on investment income generated at its Irish subsidiaries.
WSJ: Apple Pays No Tax on Much of Its Overseas Income, Senate Panel Finds
"We will not only raise significantly the amounts of our own overseas development aid but also raise its share in national income, " Mr Brown told parliament.
MasterCard's net income rebounded strongly in the fourth quarter as its overseas business continued to expand, the company said Thursday.
Some of the extra saving will also flow abroad, which will eventually boost national income through the investment returns on national wealth held overseas.
With only a minority of its income coming from sources, such as research grants and overseas students, it is depends on 60% of Scottish government funding.
The Point 1 campaign group wants to see the island increase its overseas aid commitment from 0.07% of its gross national income (GNI) to 0.1% by 2013.
Now as long as Apple keeps its overseas profits overseas, those profits are not subject to the higher U.S. income tax.
The UK government is increasing the overall overseas development budget to meet a longstanding international commitment to spend 0.7% of national income on aid.
We'll make sure that companies can't avoid paying tax on income they earn in the U.S. by pretending that they earned it in an overseas tax haven instead.
WSJ: Max Baucus and Dave Camp: Tax Reform Is Very Much Alive and Doable
Mitt Romney wants to expand the tax deferral for overseas operations by adopting a territorial tax system, under which U.S tax would never be imposed on income earned by Foreign Co. from non-U.S. sources.
应用推荐