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Essay / Research Paper Abstract
This 3 page paper answers three questions on international tax, looking at tax consideration of a US company with a subsidiary in Ireland, the benefits of being incorporated in Bermuda, taxations of the US company in Turkey and the impact of exchange rates of a contract on calculating tax. The bibliography cites 4 sources.
Page Count:
3 pages (~225 words per page)
File: TS14_TEinttax1.rtf
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Unformatted sample text from the term paper:
Ireland is a signatory to the double taxation agreement that prevents companies suffering double taxation. However there will be other issues to consider in terms of taxation. When doing
business though this subsidiary they should be considering how the returns are to be made to the parent company. If the company is a subsidiary with shares then the payments
made by dividends will be taxed and as such even with the agreement to avoid double taxation there will still be an increased tax burden, other methods of returning funds
to the US may need to be considered. However with low corporate taxes and a favourable tax regime following the clamp down on the tax advantages the US companies gained
in the past incorporation in Bermuda Ireland is now seen as a potential tax haven (Johnston, 2002). Question 2 Traditionally a compnay is liable to taxes in the country
where it is based and local taxes in areas where it operates and has local companies such as subsidiaries. In the past many companies have seen the incorporation of their
companies in Bermuda as having many tax advantages. Bermuda has been seen as a potential magnet for US corporations as they do not
have to physically move to the island to gain the advantages. Bermuda has much lower tax rates and as such the corporate tax rate paid in the country of incorporation
will be lower. The move has no impact on the tax bill for the operation in the US which will be liable to US taxes, but will be able to
save on the revue earned in foreign countries as it come sunder the Bermudian tax regime which has lower tax rates. This can
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