Assignment

answer to the following question:

As you may know, as part of our transfer pricing we allocate head office costs to all of our subsidiaries which is the only uncertain liability that we have which we measure at 60% allowable, which is fairly common in our industry. Our largest competitor, Misc, Inc. is actually nearing an agreement with the European tax regulators which would result in allowing 70% of the costs. What impact, if any, would this have on our income tax expense/rate?

Answer

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