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A method for calculating US taxes owed on income from controlled foreign corporations that was introduced by the Tax Reform Act of 1986.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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In accounting, a method of calculating tax liability of a controlled foreign corporation. It applies to U.S. taxpayers who own at least 10% of the voting stock of a foreign subsidiary of a foreign corporation.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
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