/ 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!

Porsche 918 Spyder gold chrome finish
Porsche 918 Spyder gold chrome finishA weird gold chrome finish has been added to an impressive supercar, the Porsche 918 Spyder, a good recipe for attracting a lot ...
[VIDEO] Lamborghini Aventador Roadster vs. AMS McLaren MP4-12C
[VIDEO] Lamborghini Aventador Roadster vs. AMS McLaren MP4-12CThe Lamborghini Aventador Roadster and the McLaren MP4-12C have been recently put together in an impressive drag race. Earlier ...
[VIDEO] Ferrari LaFerrari vs. Porsche 918 Spyder vs. McLaren P1 by Top Gear
[VIDEO] Ferrari LaFerrari vs. Porsche 918 Spyder vs. McLaren P1 by Top GearTop Gear Magazine has recently placed the hottest supercars money can buy these days against each other. The Ferrari LaFerrari, ...
Jeep Renegade’s pricing leaked
Jeep Renegade’s pricing leakedThe U.S. pricing of the Jeep Renegade has recently leaked out and it seems that the crossover will start from 17,995 USD, on its ...
Audi RS3 Sportback – new images released
Audi RS3 Sportback – new images releasedA new set of images with the recently unveiled Audi RS3 Sportback has just hit the web. One of the most interesting hot hatches ...
Tips for fuel-efficiency driving during winter conditions
Tips for fuel-efficiency driving during winter conditionsEven though the gas bills are nowhere near the level they were last winter, especially in the US – where a gallon of gas can be ...
Chevrolet Cruze facelift caught on camera
Chevrolet Cruze facelift caught on cameraOur spy photographers have managed to capture the facelifted version of the Chevrolet Cruze, on camera, while it was being tested ...
Mercedes-Benz A-Class facelift spied
Mercedes-Benz A-Class facelift spiedThe facelifted version of the Mercedes-Benz A-Class is currently being tested out as the model in question should be making its ...
Shelby GT350R Mustang laps the ring in 7:32.19
Shelby GT350R Mustang laps the ring in 7:32.19The recently unveiled Shelby 350R Mustang has allegedly lapped the Ring in just 7:32.19. A staggering record has been achieved ...
[VIDEO] See a modified McLaren MP4-12C do a quarter mile in 10 seconds
[VIDEO] See a modified McLaren MP4-12C do a quarter mile in 10 secondsA modified version of the McLaren MP4-12C has recently hit the drag strip only to do a quarter mile in just a little over 10 ...
China: study reveals auto dealers leaving networks after 2014 profitability loss
China: study reveals auto dealers leaving networks after 2014 profitability lossThe latest trade group research shows that auto dealerships have no reason to rejoice after 2014 tally, with more and more ...
Lamborghini Huracan by Liberty Walk looks good
Lamborghini Huracan by Liberty Walk looks goodLiberty Walk has added a few aftermarket bits and pieces to the Lamborghini Huracan and we have to admit that the result is ...
US: Nissan wants to pitch Titan as an alternative between mid and full size pickup trucks
US: Nissan wants to pitch Titan as an alternative between mid and full size pickup trucksThe Japanese automakers had a tough time cracking the “cowboys” market of full-size pickup trucks, one of the last ...
BMW M235i Coupe gets M Performance tweaks
BMW M235i Coupe gets M Performance tweaksThe BMW M235i Coupe has recently received a series of M Performance tweaks which should satisfy your needs until the real M2 will ...
Europe: Ford outpaces German growth
Europe: Ford outpaces German growthAccording to the chief of the German ford unit, who discussed with German business magazine WirtschaftsWoche, the US brand ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

porsche 918 spyder gold chrome 1
Fahraufnahme    Farbe: Sepangblau
Spy-Photo
Spy-Photo
Liberty-Walk-Lamborghini-Huracan tuning 1
audi q6 render 1
Ferrari F12 Berlinetta Tour de France 64 1
Peugeot RCZ R Bimota 1
2015 honda cr-v 1
2015 Brussels Motor Show Dream Cars 96
Spy-Photo
02-Bike-Sense-cyclist-in-window

More automotive from inautonews
A weird gold chrome finish has been added to an impressive supercar, the Porsche 918 Spyder, a good recipe for attracting a lot of attention. This is not the first time when we get to see a chrome gold finished supercar but when we are talking about one of the best vehicles money can buy these ...
read more
Inautonews Editors Section
Tips for fuel-efficiency driving during winter conditions
Tips for fuel-efficiency driving during winter conditionsEven though the gas bills are nowhere near the level they were last winter, especially in the US – where a gallon of gas can be purchased even ...
Is the auto industry ready for the aluminum revolution?
Is the auto industry ready for the aluminum revolution?While the fact that a vehicle can have aluminum body has come to widespread attention ever since Ford announced that its best-selling F-150 truck has ...
NAIAS 2015: the best and worst
NAIAS 2015: the best and worstThe 2015 North American International Auto Show is the perfect sign that USA’s auto industry has recovered fully from the brink of collapse that ...

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 Euro NCAP: New Skoda Fabia, best in classThe new generation of the Skoda Fabia has been named the safest car in its segment by Euro NCAP, ... Recall roundup: Toyota Prius V for airbag problemsToyota has recently issued a recall for several Prius V models because of a possible problem with ...
Safety Section