Business Tax Quarterly - Spring 2018 - Recommended Reading
March 23, 2018
U.K.-Listed Companies Take $900M U.S. Repatriation Tax Hit
Included in the 2017 U.S. tax act, the one-time repatriation tax and the charges multinationals are facing from it highlight the global effect of the tax changes. Setting a 15.5% levy on cash and an 8% charge on assets, the measure targets the foreign profits that U.S. stockpiled overseas to avoid domestic corporate taxes.
Medtronic and 3M, the two companies that will account for the vast majority of the state’s repatriated income, have made financial moves. At 3M, a spokeswoman said the company’s $745 million fourth-quarter charge for repatriation applied only to federal taxes.
The reduced corporate tax rate and lowered tax on repatriation of foreign profits will provide many businesses with additional funds to do M&A deals this year. Stockholders will want to know if management is looking for sell-side opportunities to get rid of assets that don’t fit with corporate goals anymore but can yield favorable returns.
Employing AI offers enterprises the opportunity to give customers an improved experience at every point of interaction, but without human governance, the opportunity will be squandered. So as AI is implemented into the corporate environment, it will need “human governance” in order to be successful.
Data is the new currency. And buyers and sellers alike will leverage real-time insights, predictive analytics, blockchain, and artificial intelligence to make smarter, more informed decisions that move their businesses forward.
A range of experts shared a peek into the not-so-distant future of automation. Here are six trends they advise IT leaders to monitor closely.
Business Tax Quarterly - Spring 2018