TOKYO -- U.S. authorities are pressing foreign companies such as Toyota Motor to pay taxes on profit from data and brand value gained in America, aiming to bring in tax revenue that would otherwise go abroad.
Economy
US pushes Japan Inc. to pay taxes on IP profit from America
Policy targets gains from data and brand value generated locally for multinationals
The IRS has indicated to such foreign companies as Toyota that they will eventually need to rework their tax obligations for U.S. subsidiaries to reflect the contribution of intangible assets in America. © Reuters
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