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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
group are included, including foreign assets owned by foreign branches of U.S.
The Indian banking regulator said that it would revive the process of making onsite visits to foreign branches and subsidiaries of domestic banks.
The Basle Concordat on supervising international banks recognizes this interdependence and emphasizes the responsibility of the home country authority to supervise the foreign branches and agencies of its banks.
Metropolitan Bank & Trust Company (MBT.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 PHP1.00 per share for its shareholders.
Foreign commercial banks were at the top of the private creditors list, followed by foreign branches and affiliates of established banks, financial institutions operating out of the banking sector and non-financial creditors.
The focus of the report is the "adjusted" exposure, the result of transferring the bank's claims from the country of the "initial" borrower to the country of the guarantor (if any) and, in the case of claims on foreign branches of banks, to the home countries of those banks.
Danish bank Sydbank A/S (SYDB.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.
Presently the bank has 24 foreign branches and five representative offices, spread across 18 countries around the world, the report said.
Meanwhile, for Corporate & Investment Banking, Intesa will focus on consolidation of international presence by strengthening existing foreign branches and selectively opening new ones in countries like Turkey.
QNB, which also has operations across the Middle East and North Africa, has said that it will enhance its international expansion plans, increasing the number of foreign branches in Oman, Sudan, and Syria.
It said on Friday that it would provide forex liquidity to public and private sector banks having foreign branches or subsidiaries.
Dabdoub said the bank had diversified its sources of income by expanding abroad, with foreign branches contributing 20 percent to the bank's net income.

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