Global Intangible Low-Taxed Income

URI: https://gptkb.org/entity/Global_Intangible_Low-Taxed_Income
GPTKB entity
Statements (24)
Predicate Object
gptkbp:instanceOf tax concept
gptkbp:abbreviation gptkb:GILTI
gptkbp:appliesTo U.S. shareholders of controlled foreign corporations
corporate U.S. shareholders
individual U.S. shareholders (with different tax treatment)
gptkbp:calculationMethod net CFC tested income
gptkbp:category anti-deferral tax regime
gptkbp:codifiedIn Internal Revenue Code Section 951A
gptkbp:excludes 10% qualified business asset investment (QBAI)
https://www.w3.org/2000/01/rdf-schema#label Global Intangible Low-Taxed Income
gptkbp:introduced gptkb:Tax_Cuts_and_Jobs_Act_of_2017
gptkbp:jurisdiction gptkb:United_States
gptkbp:purpose discourage shifting profits to low-tax jurisdictions
gptkbp:relatedTo gptkb:Subpart_F_income
Controlled Foreign Corporation
gptkbp:startDate 2018
gptkbp:subject gptkb:foreign_tax_credit
gptkbp:taxedAt U.S. shareholder level
gptkbp:taxStatus 10.5% (effective, subject to change)
gptkbp:bfsParent gptkb:US_Taxation_of_International_Income
gptkb:26_U.S.C._§_951A
gptkb:GILTI
gptkb:Internal_Revenue_Code_Section_250
gptkbp:bfsLayer 7