Tax Changes and Foreign Entities

Large multinational companies generate revenue from multiple regions, and have assets and employees throughout the world. Recently, there has been an uptick in the number of U.S.-based companies reincorporating abroad in ‘domiciles of convenience’ to benefit from various tax and … Continue reading

SEC Questions Internal Controls at Citigroup

On August 1, 2014 Citigroup Inc [C] received a comment letter from the SEC. One of the comments referred to a $235 million after-tax charge resulting from a fraud discovered at its Banco Nacional de Mexico (Banamex) subsidiary, which was recorded during the … Continue reading