Question: A U.S.-based MNC has a foreign subsidiary that earns $241,000 before local taxes, with all the after-tax funds to be available to the parent in

A U.S.-based MNC has a foreign subsidiary that earns $241,000 before local taxes, with all the after-tax funds to be available to the parent in the form of dividends. The applicable taxes consist of a 33% foreign income tax rate, a foreign dividend withholding tax rate of 9.7%, and a U.S. tax rate of 30%. Calculate the net funds available to the parent MNC if: Foreign taxes can be applied as a credit against the MNC's U.S. tax liability. No tax credits are allowed. If foreign taxes can be applied as a credit against the MNC's U.S. tax liability, the net funds available to the U.S. company is $ (Round to the nearest dollar.)
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