Treasury Crafts GILTI Exception For High-Taxed Global Income

Law360 (June 14, 2019, 5:30 PM EDT) -- The U.S. Department of the Treasury released proposed regulations on Friday that would expand an exception to the federal tax overhaul's global minimum tax, applying to global income that has already been taxed by foreign jurisdictions.

A proposal by the U.S. Department of the Treasury would allow companies an exemption to the tax on global intangible low-taxed income if they have paid foreign taxes at 90% of the U.S. rate. (AP) The proposed regulations would allow U.S. companies to elect an exemption to the Tax Cuts and Jobs Act's global intangible low-taxed income if they've already paid foreign taxes equal to...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS