Chamber of Commerce Raises Issues With TCJA International Rules

U.S. Chamber of Commerce

The U.S. Chamber of Commerce has asserted that guidance on the calculation of foreign earnings taxes should provide greater clarity on a range of issues that include the determination of the status of a specified foreign corporation, an alternative method for calculating post-1986 earnings and profits, and the definitions for determining net accounts receivable.

The U.S. Chamber of Commerce has asserted that guidance on the calculation of foreign earnings taxes should provide greater clarity on a range of issues that include the determination of the status of a specified foreign corporation, an alternative method for calculating post-1986 earnings and profits, and the definitions for determining net accounts receivable.

The U.S. Chamber of Commerce has asserted that guidance (<a href="/lr/resolve//26t24">Notice 2018-13</a>) on the calculation of foreign earnings taxes under the Tax Cuts and Jobs Act (<a href="/lr/resolve//1xftl">P.L. 115-97</a>) should provide greater clarity on a range of issues that include the determination of the status of a specified foreign corporation, an alternative method for calculating post-1986 earnings and profits, and the definitions for determining net accounts receivable.

The U.S. Chamber of Commerce has asserted that guidance (Notice 2018-13) on the calculation of foreign earnings taxes under the Tax Cuts and Jobs Act (P.L. 115-97) should provide greater clarity on a range of issues that include the determination of the status of a specified foreign corporation, an alternative method for calculating post-1986 earnings and profits, and the definitions for determining net accounts receivable.