/ Industry, News / US: Delphi pressured by the IRS

US: Delphi pressured by the IRS

Linked In Share
US: Delphi pressured by the IRS

The US auto parts company revealed it was under pressure from the country’s Internal Revenue Service to pay its taxes locally, even as its tax base is located in Great Britain.

The supplier has its headquarters out of Detroit and is among the big companies targeted by the IRS over the use of offshore tax havens, but it declared it would “vigorously contest” the US tax regulator’s desire to file taxes as a normal, domestic business.

“We will continue to prepare and file our financial statements on the basis that neither Delphi Automotive LLP nor Delphi Automotive Plc is a domestic corporation for U.S. federal income tax purposes,” the company said in a filling.

The IRS announced Delphi in June that the company would need to file taxes as a US company because Delphi Holdings LLP acquired its assets after the supplier was out of the bankruptcy procedure, completed in 2009. The company responded and revealed it was reincorporated in the UK as a limited liability partnership, after it filed federal partnership tax returns in the US between 2009 and 2011.

Companies are increasingly attracted to the UK, after previously incorporating into countries like the Caribbean Islands or Switzerland, because Great Britain changed the tax laws to allow companies operating globally to keep their offshore profits outside the country’s tax ambit.

Via Reuters

by Aurel Niculescu (my Google+) - Monday, August 11th, 2014 - filed under Industry, News. Image credit: .
Linked In Share
Related Articles
Delphi IRS tax procedures uk


Discuss: US: Delphi pressured by the IRS

Leave a Reply















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

GM and Toyota recalls could be surpassed by Takata’s airbag issues
GM and Toyota recalls could be surpassed by Takata’s airbag issuesAt least 10 million vehicles were recalled by Toyota back in 2009 and 2010 for the “unintended acceleration” issue and so far ...
EXCLUSIVE: Chevrolet Niva production version to hit the roads in 2016
EXCLUSIVE: Chevrolet Niva production version to hit the roads in 2016The North American based automaker Chevrolet will be putting the new generation of the Niva into production in 2016, as the ...
GM’s victims fund death claims tally at 131
GM’s victims fund death claims tally at 131The General Motors victims compensation fund overseen by outside attorney Ken Feinberg has seen this week a rather sharp increase ...
EXCLUSIVE: BMW not planning i8 Spyder and 7-Series derivatives, confirms X7
EXCLUSIVE: BMW not planning i8 Spyder and 7-Series derivatives, confirms X7The Bavarian carmaker has made some announcements regarding some of its future models which give us a glimpse on how the future ...
Recall roundup:  Toyota FJ Cruiser and Tacoma
Recall roundup: Toyota FJ Cruiser and TacomaA new recall has been issued by Toyota covering the FJ Cruiser and the Tacoma because of incorrect tire placard labels. The ...
America’s road rage hot spots
America’s road rage hot spotsAccording to a new survey, the usual suspects when it comes to rude driving in the US are not the ones you would expect. Yep, New ...
California introduces the autonomous car permit, Audi snatches the first one
California introduces the autonomous car permit, Audi snatches the first oneThe US state of California, America’s most populous and environmental conscious, has market another milestone this week, as it ...
2015 Honda Civic Coupe and Sedan get priced over-seas
2015 Honda Civic Coupe and Sedan get priced over-seasHonda has recently announced the official price list for the 2015 Civic in Coupe and Sedan body styles, across the United ...
Recall roundup: Chrysler 200 for electrical short issue
Recall roundup: Chrysler 200 for electrical short issueThe North American based automaker Chrysler has recently announced a recall for several Chrysler 200 vehicles because of a ...
US: Mercedes-Benz to increase supply of entry-level CLA
US: Mercedes-Benz to increase supply of entry-level CLAThe German premium automaker, ranked third in the world, enjoys a great ride in the US, rising month after month together with ...
Lamborghini Huracan – first crash recorded
Lamborghini Huracan – first crash recordedThe first recorded crash of a Lamborghini Huracan is coming all the way from Hungary and the supercar has been completely ...
Mercedes-Benz AMG GT Roadster gets rendered once more
Mercedes-Benz AMG GT Roadster gets rendered once moreNew renderings with the Mercedes-Benz AMG GT Roadster have been released, placing the model into the spotlights once again. One ...
GM increases mid-size truck production on high demand
GM increases mid-size truck production on high demandThe No. 1 US automaker has announced that it would move to introduce a third production shift at its Wentzville, Missouri, ...
2015 Hyundai Santa Fe arrives in Australia
2015 Hyundai Santa Fe arrives in AustraliaHyundai has announced the launch of the 2015 Santa Fe in Australia, where the cheapest version of the model is available for ...
Dacia Sandero RS rendered
Dacia Sandero RS renderedThe first rendering with the upcoming Dacia Sandero RS has recently hit the web and it is providing us with a first glimpse on ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

2015 honda civic coupe
lamborghini huracan crash hungary 1
mercedes-amg-gt-roadster-1
Citroen DS3 and DS3 Cabrio Ines de la Fressange Paris Concepts 1
Bentley Mulsanne Speed 1
Renault Eolab Concept 1
2015 honda civic 1
Audi TT Nuvolari 1
Honda Jazz prototype 1
2015 Ford C-MAX 1
lamborghini gallardo chrome crash female student michigan state university 1
Toyota Urban Utility Concept 1

More automotive from inautonews
At least 10 million vehicles were recalled by Toyota back in 2009 and 2010 for the “unintended acceleration” issue and so far GM has made 67 separate recall actions with almost 30 million vehicles due back in service. The level of media attention surrounding this two particular cases has been ...
read more
Inautonews Editors Section
Top 10 Ferrari F1 drivers No.1 Michael Schumacher
Top 10 Ferrari F1 drivers No.1 Michael SchumacherThe greatest driver of the modern age and perhaps the most complete off all-time he rewrote all the conceivable records in such a dominant fashion ...
Can Ricciardo do a Prost ’86?
Can Ricciardo do a Prost ’86?For the third time this season, Mercedes faltered in their 1988-esque campaign and there’s only one man ready to pounce whenever opportunities ...
Test Drive – Mercedes-Benz E250 CDI 4Matic
Test Drive – Mercedes-Benz E250 CDI 4MaticDaimler’s passenger cars division – which consists of the Mercedes-Benz and Smart brands – has vowed to recover the distance from its German ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety GM and Toyota recalls could be surpassed by Takata’s airbag issuesAt least 10 million vehicles were recalled by Toyota back in 2009 and 2010 for the “unintended ... GM’s victims fund death claims tally at 131The General Motors victims compensation fund overseen by outside attorney Ken Feinberg has seen ...
Safety Section