While benefiting from the recently announced reduction in the U.S. federal corporate tax from 35 percent to 21 percent from now on, Amer Sports will have to take a $13 million charge in 2017 to write down $40 million in deferred tax assets in the U.S. as part of the new scheme. Other companies are likely to have to do the same. The Thule Group, for example, said the tax reform will have a positive impact on its tax rate in the U.S. as of this year. However,, its results for the fourth quarter of 2017 will show a write-down for the reduction in the value of the company's deferred net tax assets in the U.S., estimated at about $14 million.
Related articles
-
News briefsGreen Theme Technologies secures $6m for expansion
The US sustainable textile and materials science company raised funding to advance eco-friendly technologies for various high-performance markets.
-
ArticleAccell Group secures creditor support for recapitalization
The company’s creditors approved the restructuring plan, paving the way for recapitalization implementation.
-
News briefsNewell Brands prices $1.25bn in notes to refinance debt and extend maturity profile
The parent of Marmot, Coleman, Contigo and Campingaz has announced $1.25 billion in new notes to refinance existing debt, supporting longer-term financial flexibility.