Posts Tagged ‘Daimler benefits from tax cuts’

US Tax Cuts Provides 1B Euro Boost to Daimler Shareholders

Company increasing dividend to global shareholders.

by on Dec.26, 2017

Daimler AG will benefit from the new tax cuts in the U.S. to the tune of $1 billion.

Daimler AG expects the reduction in U.S. federal taxes to boost the company’s net income by roughly 1 billion euros, which will lead to higher dividends next year for automaker’s shareholders around the world, the company said in a statement released during the Christmas holidays.

The new tax law pushed by President Donald Trump includes the permanent reduction of the U.S. corporate income tax rate from 35% to 21%, starting Jan. 1, 2018.

Global Auto News!

“Due to the broadly based U.S. industrial and financial services business, combined with a material value added, Daimler — similar to many other local U.S. companies — benefits from the decided tax reform,” according to a statement by Daimler, which builds, cars, heavy-duty trucks and large diesel engines at operations spread across the United States with major employment clusters in Portland, Oregon, Detroit and Tuscaloosa, Alabama. (more…)