Question
29, A French branch of a US corporation paid $8,000,000 in income taxes to the government of France on $20 million of pre-tax income generated
29, A French branch of a US corporation paid $8,000,000 in income taxes to the government of France on $20 million of pre-tax income generated in France. The corporation is subject to a 21% tax rate in the US.
How much tax will be owed to the US government on the French branch income?
a.$0
b.$2,100,000
c. $8,400,000
d. $4,200,000
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Forensic Accounting And Fraud Examination
Authors: Paul Barnes
1st Edition
1118454138, 978-1118454152
