Goldman Sachs: profits fall after tax reform
(CercleFinance.com) - Goldman Sachs indicates that based on current information, the tax reform adopted recently will translate into a dip of approximately five billion dollars in its results for the fourth quarter of 2017.
Based on the document sent by the New-York based merchant bank to the Securities and Exchange Commission (SEC), two-thirds of this fall is attributable to the repatriation tax introduced by this reform.
The rest of the loss of earnings can be explained by the implementation of the territorial tax system and by the revaluation of deferred tax assets in the United States based on the lower tax rates imposed for companies.
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Based on the document sent by the New-York based merchant bank to the Securities and Exchange Commission (SEC), two-thirds of this fall is attributable to the repatriation tax introduced by this reform.
The rest of the loss of earnings can be explained by the implementation of the territorial tax system and by the revaluation of deferred tax assets in the United States based on the lower tax rates imposed for companies.
Copyright (c) 2017 CercleFinance.com. All rights reserved.