The acronym for the new provision under the Tax Cuts and Jobs Act (TCJA) that may...

The acronym for the new provision under the Tax Cuts and Jobs Act (TCJA) that may require the inclusion of some of the earnings of a foreign (non-US) subsidiary in a US corporation’s US income tax return, even though the foreign subsidiary did not actually distribute these earnings to the US corporation is:

a. GILTI

b. FDII

c. CFC

d. BEAT

Solutions

Expert Solution

Answer is A. GILTI.

This is a new provision added in 2017. I have added a screenshot for your better understanding. Column 2 explains the 2017 law and Column 3 explains the changes in the provision. The source website is that of IRS.

ekkarill92 answered 1 year ago

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