International Tax Planning and Research Chapter 2

International Tax Planning and Research Chapter 2 -...

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International Tax Planning and Research Homework Chapter 2 4. Cosmos Corporation, a U. S. corporation engaged in the manufacture, sale and leasing of computer equipment, has a Paris branch office engaged in marketing its computers in Europe. The Paris branch leases a computer to the Paris branch office of a German company. What is the source of the rental income? The source of rental income is determined by the place where the property is located or used. The source of rental income for tangible property will depend on the place where the property is physically located. Since the property is physically located in Paris, then the Paris office will recognize that the basis of the rental income must be apportioned between the U. S. and the Paris office. 5. Bolivar, S. A., a Panamanian corporation, owns a U. S. patent. Bolivar grants a nonexclusive license under the patent to Trimingham and Company, a Bermuda corporation, in exchange for a
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This note was uploaded on 10/22/2011 for the course ACCOUNTING ACC565 taught by Professor Lindachess during the Spring '10 term at Strayer.

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International Tax Planning and Research Chapter 2 -...

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