Dow Chemical 2013 Annual Report Download - page 154
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132
Tax years that remain subject to examination for the Company’s major tax jurisdictions are shown below:
Tax Years Subject to Examination by Major Tax
Jurisdiction at December 31
Earliest Open Year
Jurisdiction 2013 2012
Argentina 2007 2006
Brazil 2009 2008
Canada 2009 2008
France 2011 2010
Germany 2006 2006
Italy 2008 2003
The Netherlands 2012 2012
Spain 2008 2008
Switzerland 2009 2009
United Kingdom 2011 2008
United States:
Federal income tax 2004 2004
State and local income tax 2004 2004
The Company is currently under examination in a number of tax jurisdictions. It is reasonably possible that some of these
examinations may be resolved within twelve months. As a result, it is reasonably possible that the total gross unrecognized tax
benefits of the Company at December 31, 2013 may increase or decrease in the next twelve months by approximately
$80 million as a result of these resolved examinations. The impact on the Company’s results of operations is not expected to be
material.
The reserve for non-income tax contingencies related to issues in the United States and foreign locations was $105 million at
December 31, 2013 and $151 million at December 31, 2012. This is management’s best estimate of the potential liability for
non-income tax contingencies. Inherent uncertainties exist in estimates of tax contingencies due to changes in tax law, both
legislated and concluded through the various jurisdictions’ tax court systems. It is the opinion of the Company’s management
that the possibility is remote that costs in excess of those accrued will have a material impact on the Company’s consolidated
financial statements.