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This excerpt taken from the CBM 10-K filed Mar 15, 2007. Income
Taxes
The Company and its eligible subsidiaries file a consolidated
U.S. income tax return. Certain subsidiaries which are
consolidated for financial reporting are not eligible to be
included in the consolidated U.S. income tax return.
Cambrex has not provided U.S. federal income and
withholding taxes on its undistributed earnings from
non-U.S. operations
as of December 31, 2006 because it intends to reinvest such
earnings indefinitely outside of the United States. If Cambrex
were to distribute these earnings, it is anticipated that
foreign tax credits will be available under current law to
significantly reduce the resulting U.S. income tax
liability. Determination of the amount of unrecognized deferred
tax related to these earnings is not practical. At
December 31, 2006, the cumulative amount of unremitted
earnings of
non-U.S. subsidiaries
was approximately $44,000.
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