Foreign Sales Corporations for manufacturers
Article Abstract:
The foreign sales corporations (FSC) program created by the US Congress enables exporting companies to increase their post-taxation profits from their foreign ventures. Through the program, manufacturers are allowed to establish FSCs under the laws of any qualifying country. Each time an export transaction is made by the parent company, a commission is recorded to the FSC using an IRS-authorized formula. This commission expense can be deducted from the tax of the parent company while percentage of the commission is exempted from the federal tax of the FSC. Small FSCs are not required to follow regulations imposed on large FSCs. The FSC program was established to balance the US trade deficits and increase the competitiveness of manufacturing companies in the global arena.
Publication Name: Management Accounting (USA)
Subject: Business, general
ISSN: 0025-1690
Year: 1992
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Go carefully into unknown territory
Article Abstract:
Issues concerning the public concerns over genetically modified food are discussed, with particular focus on the capacity of Australian businesses to respond to these concerns. It is emphasized that ethical aspects of business can be more important than sales forecasts.
Publication Name: Business Review Weekly
Subject: Business, general
ISSN: 0727-758X
Year: 2001
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