...On May 4, 2009, President Barack Obama and Treasury Secretary Timothy Geithner proposed reforming international tax policy around deferrals. Generally, under the rules surrounding deferral, a U.S. domiciled multinational company can deduct expenses related to overseas operations but does not have to pay income taxes in the U.S. until it repatriates its earnings. The earnings can be permanently retained or reinvested overseas with no tax liability in the U.S. Most companies report this as "permanently reinvested/non-distributed earnings of foreign subsidiaries" in their income tax footnote. However, if the earnings are repatriated as dividends, the related taxes become due. It is important to note that the taxes due would generally be the difference between the tax rate in the country where the profits were earned and the U.S. statutory rate. The reform proposal is part of a broader package aimed at generating $210 billion in additional tax revenue from multinational corporations between...
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| Report Type: | Special Report
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| Company(ies): | Hasbro, Inc., The Black & Decker Corporation, Avon Products, Inc., Newell Rubbermaid, Inc., The Stanley Works, Alberto-Culver Company, Whirlpool Corporation, Mattel, Inc., Constellation Brands, Inc., Colgate-Palmolive Company, The Clorox Company, Fortune Brands, Inc., Kimberly-Clark Corporation
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| Ticker(s): | KMB , AVP , NWL , SWK , ACV , CL , HAS , FO , STZ , WHR , MAT , BDK , CLX
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| Issuer: | Stanley Works (The)
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| Free Sample: |
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| Format: | | PDF |  |
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