Hubbell Policies

TAX ACCOUNTING POLICY

English

Owner : Vice President, Tax

Last Review: 2015.05.01

FIN – 4 8

Department: Tax

POLICY This policy outlines the required procedures to be performed by foreign and domestic legal entities for all tax-related balances. Any domestic tax entries require written approval by the Corporate Tax Department prior to being recorded. All foreign legal entities must complete the Tax Provision Package on a quarterly basis. SCOPE This policy applies to all Hubbell Legal Entities PURPOSE To ensure that all tax balances are properly recorded on Hubbell's consolidated books, and are accurately reported in the financial statements in accordance with US GAAP (ASC 740). PROCEDURE Foreign Legal Entities All foreign legal entities must complete the Tax Provision Package on a quarterly basis by 5PM EST on the 3rd workday to compute their current and deferred income tax provision and record the resulting quarterly tax journal entry. The Tax Provision Package that is prepared should agree to HFM on a quarterly basis as part of this process. Entities should maintain all supporting documents behind tax package calculations, and submit support to corporate tax department as requested. The Tax Provision Package should be submitted through the EY Portal (www.eyonline.com) for the corporate tax department to review. Domestic (US) Legal Entities All domestic tax entries will be calculated and recorded by the Corporate Tax Team with support from local controllers as needed. No tax entries should be booked on local company books without prior written approval of the corporate tax department. ADMINISTRATION Roles and Responsibilities. None

Monitoring, Evaluation and Review. None

Exceptions. None

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