A day doesn’t pass without all of us being impacted by foreign trade activity. Technology, the lifting of trade barriers and the demands of customers and vendors are all responsible for the growth of international business activity. Many U.S.-based businesses are involved with international transactions in their daily business activity. This includes operating through foreign subsidiaries and conducting cross-border transactions with vendors and customers. A business engaging in international activity increases the need for the business to consider the tax implications and compliance requirements with respect to the foreign activities.