Question: What are the tax differences between operating as a foreign branch and a foreign subsidiary of a U.S. corporation? What are the advantages and disadvantages

What are the tax differences between operating as a foreign branch and a foreign subsidiary of a U.S. corporation? What are the advantages and disadvantages of each form

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=+g. Does it deliver one, instantly understandable message?

=+e. Does it entertain, inform and/or engage the reader?

=+h. Do all of the related materials project one cohesive message?