Holly Roundtree CPA
2019 – 07/30
The U.S. direct investment abroad position decreased $62.3 billion, to $5.95 trillion at the end of 2018 from $6.01 trillion at the end of 2017. According to a Bureau of Economic Analysis report, the decrease was due to the repatriation of accumulated prior earnings by U.S. multinationals from their foreign affiliates, largely in response to the 2017 Tax Cuts and Jobs Act (TCJA). The law generally eliminated taxes on dividends, or repatriated earnings, to U.S. multinationals from their foreign affiliates. The decrease reflected a $75.8 billion decrease in the position in Latin America and elsewhere in the Western Hemisphere, primarily in Bermuda. Read more here: http://bit.ly/2Moxrw0.