Taxation of Income Earned by Foreign Subsidiaries

Disruption

Course

Taxation of Income Earned by Foreign Subsidiaries

  • Format

    Course - Online

  • Duration

    1h

Focuses on determining US shareholder and CFC status under the new rules from tax reform.

Learning outcomes

  • Identify a CFC and a US shareholder
  • Apply constructive stock attribution rules properly (*Tax reform)
  • Distinguish how rules around indirect and direct ownership is applied
  • Section 962 Elections
  • Differentiate the different types of subpart F income
  • Identify situations that would create subpart F income for a US entity
  • Calculate subpart F income for specific scenarios
  • Apply specific rules providing exceptions and limitations for subpart F income
  • Identify the importance of E&P in an International Context
  • Recall E&P
  • Calculate Common E&P Adjustments
  • Apply E&P Concepts to common International Tax transactions
  • Determine when you have PFICs
  • Recognize the consequences of PFIC ownership
  • Differentiate the tax implications of PFIC elections
  • Recall PFIC reporting
  • Recognize Foreign Asset reporting requirements beyond PFIC

£99.00 (CIMA members only)

£129.00

VAT calculated on checkout

Product information

Overview

Differ from the "old" rules.

This self-study online course is part of the U.S. International Tax Certificate, a comprehensive learning program geared to help global finance and accounting professionals navigate the highly complex world of international taxation. This course can be purchased individually or as part of the U.S. International Tax: Inbound and Outbound Transactions bundle. You must purchase the bundle to earn the digital badge.

This CPE self-study course focuses on determining US shareholder and Controlled Foreign Corporation (CFC) status under the new rules from tax reform. There is also discussion on how such rules differ from the "old" rules.

The course also provides a detailed session on the operating rules of subpart F income but not including section 956 and Global Intangible Low-Taxed Income (GILTI) inclusions. There is detailed discussion on international topics regarding calculating and reporting E&P for U.S. federal income tax purposes, as well as practical examples and application.

Also discussed in detail are international topics regarding Passive Foreign Investment Companies (PFICs) and foreign asset reporting for U.S. federal income tax purposes, as well as practical examples and application.

Who should take this course?

  • Public and corporate tax professionals interested in building a solid foundation in U.S. international taxation.

Professional development

All learning resources available in the CGMA Store qualify for CPD for CIMA members.

Prerequisites:None
Duration:1h
Format:Course - Online
Access:This is a digital product. You will have access to the content for a year after purchase date.

Return and refund policy

£99.00 (CIMA members only)

£129.00

VAT calculated on checkout

Accessibility

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The Association is committed to making professional learning accessible to all product users. This commitment is maintained in accordance with applicable law. For additional information, please refer to the Association's Website Accessibility Policy. As part of this commitment, this product is closed-captioned. For additional accommodation requests please contact adaaccessibility@aicpa-cima.com and indicate the product that you are interested in (title, etc.) and the requested accommodation(s): Audio/Visual/Other. A member of our team will be in contact with you promptly to make sure we meet your needs appropriately.