I said it was a schedule when loans could be made and, if they were made, must be made, and must be repaid.
The record is going to speak for itself on that statement of yours.
So you never audited your own tax advice and the implementation of that advice in HP's operations?
If any company can get away with having an effective repatriation of money overseas--without paying taxes, in other word...
The bottom line, though, is not complex. We have a fiscal crisis in this country.
Loss of tax revenue is a key cause of the problem. Shifting of profits offshore by multinational corporations is a major...
If check the box were eliminated, there would be more taxation under Subpart F.
But the absence of an accounting standard to guide people, is not troubling to you when your job is to put out standards...
We have to do something about it.
You are resisting that word, but now let me take a look at your own documents.
That is what the point is here, trying to avoid Section 956.
You are not in a position to tell us what the policy is of the Treasury Department, I gather.
Can't you give some guidance, though, to people?
Is it appropriate to use it as a tool to manage earnings?
Two pools, both HP pools, were given a common schedule.
Is that what you mean by sequence?
We see in the Microsoft case a very significant transfer of revenue and profit overseas to a wholly owned subsidiary in ...
You do not have any people in Bermuda, do you?
