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Establishing Credit Card Bank Subsidiary Allows Manufacturer to Invest in CDs Without Repatriation Penalty  


Author:  Staff Editors.


Source: Volume 20, Number 02, Winter 2003 , pp.187-191(5)




Journal of Taxation of Investments

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Abstract: 

The Limited, Inc. (6th Cir. 2002) indicates one of the advantages to forming a credit card bank. The taxpayer was able to invest earnings of foreign subsidiaries in certificates of deposit without paying the usual income tax resulting on repatriation.

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