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Infosys signs agreement with U.S. IRS; sees lower tax rate

Reuters 

(Reuters) - Infosys Ltd on Tuesday said it has signed an agreement with the U.S. Internal Revenue Service (IRS), resulting in an effective tax rate of about 100 basis points lower going forward. The Advanced Pricing Agreement (APA), now concluded following discussions initiated in 2015, is expected to result in reversal of tax provisions of about $225 million made in the previous periods and boost the company's consolidated basic earnings per share by about $0.10 for quarter ended December 31, the Bengaluru-based company said in a statement. http://bit.ly/2mbawWjAPA is an agreement between ...

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First Published: Tue, January 09 2018. 18:39 IST
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