Get a solid understanding of international tax terminology and regulations that apply to a U.S. entity involved in global operations, or for a foreign entity doing business in the U.S. Whether your organization is contemplating a global move or is already involved in international business, you need to know about the activities that create multijurisdictional tax exposure and the required tax reporting for each relevant jurisdiction. Course materials include the impact of the Tax Cuts and Jobs Act of 2017 (TCJA) tax reform law and the subsequent regulations.
DESIGNED FOR
Senior associates through manager in public accounting who assist clients with tax
implications of their global operations, owners and CFOs of closely held businesses with
international operations.
BENEFITS
- Identify basic foreign tax law fundamentals to properly serve clients that require international tax compliance
- Recognize how to comply with U.S. tax reporting requirements for inbound and outbound transactions and operations.
- Identify how to source income to a foreign jurisdiction,
- Determine the required allocation and apportionment of deductions to foreign sourced income.
- Analyze which foreign taxes are creditable against U.S. taxes.
- Recognize how to Report foreign bank accounts and investments in jurisdictions including FATCA rules.
- Identify the U.S. tax reporting requirements for foreign affiliates.
- Recognize how to structure transactions and/or business operations of foreign-based service businesses entering the United States.
- Evaluate the effect of treaties on the taxation of your client’s foreign based income activities.
HIGHLIGHTS
- Receipts in foreign currency
- Allocation and apportionment of deductions
- U.S. foreign tax credit – fundamentals and special rules
- Initiation of foreign operations
- Foreign branches and affiliated companies
- Sale of use of tangible property
- Foreign business operations in the United States
- Foreign business sales of tangible property in the United States
- Foreign business provision of services in the United States
- Exploitation of business assets outside of the United States
- Use of foreign tangible/intangible property in the United States
- U.S. withholding taxes on foreign businesses
COURSE LEVEL
Intermediate
PREREQUISITES
Strong knowledge of U.S. Income taxation.
ADVANCE PREPARATION
None