Biotech Values

[DewDiligence]

Re: Cash repatriation

The tax-reform bill that gets enacted will likely impose a one-time tax on the accumulated foreign profits of US-based multinationals that have not been taxed by the US—whether or not the cash corresponding to these accumulated profits is repatriated. Such a provision is in both the House and Senate versions of the bill.

After the one-time tax mentioned above has been paid, future ex-US earnings of US-based companies will not be subject to US income tax.