What US Internal Revenue Code Section 951A - Global Intangible Low-Taxed Income (GILTI): Net CFC Tested Income Calculation, 10% QBAI Deduction, High-Tax Exception and Section 250 Deduction requires
Under IRC § 951A, U.S. shareholders of Controlled Foreign Corporations (CFCs) must include their pro rata share of Global Intangible Low-Taxed Income (GILTI) in their gross income annually. This regime targets low-taxed foreign earnings by imposing a U.S. tax on the excess of a CFC's net income over a routine 10% return on its tangible assets.
Pillar: Banking & Global Finance · Authority: United States Department of the Treasury, Internal Revenue Service (IRS) · Version: 1.0.0 · Last updated:
Primary source: https://www.irs.gov/forms-pubs/about-form-8992
SHA-256 integrity: 6988c3e0ed88b574933a6f2e8e23c1b0afbb6dae25e9263aefa5cebc0dc53dc5
Primary Citations — 7 traced to source
- 26 U.S. Code § 951A - Global intangible low-taxed income included in gross income of United States shareholders
- 26 U.S. Code § 951A(b) - Global Intangible Low-Taxed Income Definition
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