September 13, 2018 / 8:31 PM / in 7 months

U.S. Treasury proposes GILTI rules minus foreign tax credit guidance

WASHINGTON, Sept 13 (Reuters) - The U.S. Treasury and Internal Revenue Service on Thursday issued proposed regulations on the treatment of global intangible low-taxed income, or GILTI, under President Donald Trump’s 2017 tax overhaul.

The government said in a release that the rules are intended to offer clarify to U.S. shareholders on computing GILTI income from business operations overseas. But the guidance did not include long-sought rules on how to compute foreign tax credits, which represent a vital issue for U.S.-based companies that are subject to the provision. (Reporting by David Morgan Editing by Alistair Bell)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below