The new tax law totally revamps the tax rules for companies earning income abroad.
Alert: The Tax Cuts and Jobs Act creates a new “territorial system” for international taxation.
Under the new system, foreign investments are generally taxed only where they operate, tax deductions are allowed for certain foreign dividends and tax rates are reduced for foreign intangible income.
Tip: The new rules include a one-time repatriation tax of 15.5% for liquid assets and 8% for illiquid assets.
- Small Business Tax Deduction Strategies No matches