analysis of domestic international sales corporations (DISC)
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analysis of domestic international sales corporations (DISC) by United States. Congress. House. Committee on the Budget.

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Published by U.S. Govt. Print. Off. in Washington .
Written in English



  • United States.


  • Domestic international sales corporations.,
  • Tax expenditures -- United States.

Book details:

Edition Notes

Statementprepared by the staff of the House Budget Committee for the Task Force on Tax Expenditures.
ContributionsUnited States. Congress. House. Committee on the Budget. Task Force on Tax Expenditures and OH-Budget Agencies.
LC ClassificationsHF1455 .U46 1975
The Physical Object
Paginationvii, 16 p. ;
Number of Pages16
ID Numbers
Open LibraryOL5014193M
LC Control Number76601741

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This item: Sales Law, Domestic and International, 3d (Concepts and Insights) by Clayton Gillette Paperback $ In stock. Ships from and sold by West Academic. Sales: A Systems Approach [Connected Casebook] (Aspen Casebook) by Daniel Keating Hardcover $ In Stock/5(10). Get this from a library! Domestic international sales corporations. [Robert Feinschreiber; Practising Law Institute.] -- Monograph on the DISC tax programme. The law is stated as to include the Tax Reform Act of provisions, that have occurred prior to Septem .   A domestic international sales corporation is an entity incorporated in the United States that receives tax incentives for its export activities. In essence, the shareholders of this entity receive reduced income tax rates on the income earned from certain exports of U.S.-produced goods. A domestic international sales corporation is also known as a foreign sales corporation. This data release was written by Cynthia Belmonte, an economist with the Special Studies Returns Analysis Section, under the direction of Chris Carson, Chief. Interest-Charge Domestic International Sales Corporations (IC-DISC’s) are domestic corpora- tions formed to export U.S. products.

The domestic international sales corporation is a concept unique to tax law in the United States. In , the U.S. Congress voted to use U.S. tax law to subsidize exports of U.S. made goods. The initial mechanism was through a Domestic International Sales Corporation (DISC), an entity with no substance which received tax benefits. a corporation subject to section (e)(2), the transferor and the acquiring corporation may elect, under section (e)(2)(C), to reduce the transferor's basis in the stock received instead of reducing the acquiring corporation's basis in the property transferred. . Domestic companies are typically governed by US securities laws. Their financial reports are normally constructed according to generally accepted accounting principles (GAAP). International firms are headquartered in the United States but maintain significant investments outside the country and have geographically diverse profit centers. Corporations & Shareholders Taxpayers can use an interest charge domestic international sales corporation (IC-DISC) to obtain a tax incentive available to manufacturers, producers, resellers, and exporters of goods that are produced in the United States .

Nixon Administration proposed, and Congress passed the domestic international sales corporation (DISC) program. 2. This note is an analysis of DISC in light of the current border tax adjustment problem, its possible contravention of the General Agreement on . The foreign corporation's controlling domestic shareholders use the tax book value (or alternative tax book value) method of allocating interest expense under Sec. (e)(4); and A sale or exchange of the foreign corporation's stock of the controlling domestic shareholders resulting in the recharacterization of gain under Sec. Taxes and Multinational Corporations. National Retail Sales Tax. Intangible Low Tax Income (or GILTI)—is taxed annually as earned at half the US corporate rate of 21 percent on domestic income, with a credit for 80 percent of foreign income taxes paid. Because half the US corporate rate is percent, the 80 percent credit.   The trade which takes place within the geographical boundaries of the country is called domestic business, whereas trade which occurs between two countries internationally, is called international business. Entities engaged in international business often face more difficulties than the entities which conduct domestic business.