Taxation of Income Earned by Foreign Subsidiaries

Format

Course - Online

Duration

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