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Infosys tax pact with US IRS to hike per share earning
By TII News Service
Jan 10, 2018 , Bangaluru

    

IN a bid to reduce its tax burden in the USA, the homegrown IT service provider, Infosys Ltd. has signed an Advance Pricing Agreement (APA) with the US Internal Revenue Service (IRS) on Tuesday. According to a release by the company, this agreement will result in the reversal of provisions of tax to the tune of USD 225 million in the quarter ended December 31, 2017.

Under the APA, Infosys and the IRS have agreed on the methodology to allocate revenues and compute the taxable income of the company's US operations. The reversal of the tax provisions will have a positive impact on its consolidated basic 'Earnings per Share (EPS)' for the December, 2017 quarter. The preliminary discussions with the IRS on the APA were initiated by Infosys in 2015, followed by multiple rounds of discussions.

 
 
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