Dems Look To Treasury Regs To Simplify GILTI Tax Changes
By Alex M. Parker (April 8, 2021, 7:20 PM EDT) -- A proposal from Senate Democrats to use existing U.S. Treasury regulations to enhance the tax on global intangible low-taxed income could reduce administrative complexity, but likely won't avoid all potential compliance and enforcement headaches with the proposal.
A new tax plan proposed by Senate Democrats would retain a key incentive from the 2017 tax overhaul that benefits U.S. companies holding valuable intangibles at home, while changing the formula to eliminate incentives for moving assets offshore. (AP Photo/Patrick Semansky) The international tax "framework" unveiled Monday by Senate Finance Chairman Ron Wyden and other Democrats aims to correct what they claim are flaws...
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