Foreign branch

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Foreign branch

A foreign affiliate that is legally a part of the firm. According to the U.S. tax code, foreign branch income is taxed as it is earned in the foreign country.

Foreign Branch

A branch of a foreign company that operates in the United States, or a branch of an American company operating outside the U.S. In both cases, the branch is legally part of the company and is not its own entity. Each type of foreign branch is subject to special tax considerations.
References in periodicals archive ?
As indicated in the Company filing on February 13, 2003, an internal investigation was conducted by Therma-Wave's Audit Committee, outside counsel and independent forensic accountants with respect to one of the Company's foreign branches to determine the impact of: (i) the timing of and the amount of revenue derived from a customer's purchase of a product for which $1.
PH), a banking company headquartered in Makati City, the Philippines and operating nearly 760 local branches and 38 foreign branches, as well as 1,400 ATMs, has said that its board has approved a cash dividend of PHP1.
Bank Tejarat has nearly 2,000 branches throughout Iran, as well as foreign branches in Paris, France and Dushanbe, Tajikistan.
The bank has over 16,000 employees, operates a distribution network comprising more than 730 branches including five foreign branches and four international representative offices, more than 2,600 ATMs, a call centre and an internet and a mobile bank.
tax on foreign profits and also vitiates transfer-pricing and other cross-border tax issues, the IRS and Treasury should arguably encourage the establishment of foreign branches.
corporations with foreign branches may have failed to make these certifications in post-1986.
As indicated in our filing of Form 12b-25 on February 13, 2003, with the Securities and Exchange Commission, an internal investigation is being conducted by our audit committee, outside counsel and outside auditors with respect to one of our foreign branches to determine the impact of (i) the additional terms and conditions agreed to by the foreign branch's local management with respect to equipment shipped to certain customers and related timing of recognizing revenue under accounting principles generally accepted in the United States, and (ii) the business expense practices of our employees at that foreign branch.
KO) has said that it will reduce its staff, reshuffle the organisation of its foreign branches and raise interest rates, as part of efforts to weather the worsening banking environment.
It has 586 domestic and three foreign branches, two of which are in Turkish Republic of Northern Cyprus and one in Bahrain, three subsidiaries in Germany and one representative office in Iran.
Subsequent to the enactment of the Foreign Bank Supervision Enhancement Act of 1991, which gave the Federal Reserve greater supervisory authority over foreign branches, our examinations uncovered a number of entities with internal control and audit weaknesses.

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