How to lose a foreign tax credit, part II : transactions involving CFC stock of U.S. shareholders
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The work How to lose a foreign tax credit, part II : transactions involving CFC stock of U.S. shareholders represents a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation. This resource is a combination of several types including: Work, Language Material, Continuing Resources.
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How to lose a foreign tax credit, part II : transactions involving CFC stock of U.S. shareholders
Resource Information
The work How to lose a foreign tax credit, part II : transactions involving CFC stock of U.S. shareholders represents a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation. This resource is a combination of several types including: Work, Language Material, Continuing Resources.
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- How to lose a foreign tax credit, part II : transactions involving CFC stock of U.S. shareholders
- Language
- eng
- Summary
- When foreign taxes are imposed on transactions involving controlled foreign corporations (CFCs), there are a variety of ways a U.S. taxpayer may "lose" a foreign tax credit it may have expected to be available. The risk of losing a foreign tax credit is particularly great when foreign taxes are imposed on transactions involving a CFC that result in income recognition for foreign law purposes where there is no analogous U.S. recognition event in the same year. Part I of this series of articles considered the potential to lose foreign tax credits in fact patterns involving foreign taxes imposed on transactions of a CFC that are disregarded for U.S. federal income tax purposes. This Part II considers cases where foreign tax is imposed on regarded transactions involving distributions from CFCs, and or dispositions of CFC stock, owned directly by a U.S. taxpayer
- Citation source
- In: International tax journal. - Riverwoods. - Vol. 47 (2021), no. 4 (July-August) ; p. 47-51
- Geographic coverage
- North America
- Language note
- English
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