Final BEAT Rules Provide Noncash Exceptions

Law360 (December 2, 2019, 4:41 PM EST) -- The U.S. Treasury Department on Monday issued final regulations for the base erosion and anti-abuse tax that provide exceptions for certain noncash transactions, such as when an American company purchases depreciable or amortizable assets from a foreign affiliate.

Treasury issued final regulations for the base erosion and anti-abuse tax, with exceptions for certain noncash transactions. (AP) The final regulations provide exceptions for intercompany transactions that involve noncash payments from U.S. businesses to foreign affiliates that could otherwise qualify as base erosion payments subject to the BEAT's limit on deductions. These transactions include intercompany exchanges where there may not be recognized gains or...

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