Blocking New Corporate Tax Giveaways Act This bill modifies the global intangible low-taxed income (GILTI) regime to provide that high-taxed amounts are excluded from tested income for purposes of determining GILTI only if such amounts are initially treated as foreign base company income or insurance income.
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Timeline
Introduced in Senate
Read twice and referred to the Committee on Finance.
Introduced in Senate
Read twice and referred to the Committee on Finance.
Taxation
Foreign and international corporationsSecuritiesTaxation of foreign income
Blocking New Corporate Tax Giveaways Act
USA116th CongressS-3280| Senate
| Updated: 2/12/2020
Blocking New Corporate Tax Giveaways Act This bill modifies the global intangible low-taxed income (GILTI) regime to provide that high-taxed amounts are excluded from tested income for purposes of determining GILTI only if such amounts are initially treated as foreign base company income or insurance income.