USA will only tax foreign business earnings if it repatriates it to USA through dividends. This policy is known as “deferral”.
Deferral creates an opportunity for avoiding...
The following items are included in income of taxpayer for a taxation year:
Alimony or maintenance payments (s. 56(1)(b) and s. 56(1)(e))
Allowances for personal, living, or any...
If a domestic corporation has a foreign subsidiary, this subsidiary will usually maintain its books and records in the currency of the country where it exists. If this subsidiary repatriates...