Printer Friendly

International tax statistics.

International Tax Statistics

The IRS Winter Statistics of Income (SOI) Bulletin contains several items of interest regarding international taxation issues.

One study reports that 10,500 foreign corporations reported $61 billion in receipts from activities effectively connected with U.S. business operations. About 60% were engaged in real estate activities. The IRS says that companies incorporated in Japan dominated the statistics. Despite the large number of total receipts, only 3,300 foreign corporations reported profits, resulting in a total net deficit of $162 million.

Another study reports that U.S. source income paid to foreign persons exceeded $31.8 billion for 1988, up 40% from 1987. Again, Japan topped the list, having received $8.4 billion of U.S. source income.

Finally, statistics collected in 1986 show Canada to be the largest recipient of foreign-source U.S. taxable income. In that year, U.S. corporations paid Canada $4.7 billion in foreign taxes.
COPYRIGHT 1991 National Society of Public Accountants
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:the Internal Revenue Service Winter Statistics of Income Bulletin on international taxation issues
Publication:The National Public Accountant
Article Type:Brief Article
Date:Sep 1, 1991
Previous Article:LabelWriter II and II Plus Printers.
Next Article:Installment/lump-sum benefits election.

Related Articles
Corporate estimated tax payments.
The effect of the APA and other U.S. transfer-pricing initiatives in Canada and other countries.
Pending Canadian income tax issues.
Limited liability: a business form worth considering.
International taxation.
Cyberspace transactions present interesting international, state and local tax issues.
Improving the competent authority process.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters