global intangible low-taxed income (GILTI)
GPTKB entity
Statements (20)
| Predicate | Object |
|---|---|
| gptkbp:instanceOf |
U.S. tax law concept
tax provision |
| gptkbp:abbreviation |
gptkb:GILTI
|
| gptkbp:appliesTo |
U.S. shareholders of controlled foreign corporations
|
| gptkbp:calculationMethod |
net CFC tested income minus 10% of qualified business asset investment (QBAI)
|
| gptkbp:codifiedIn |
gptkb:26_U.S.C._§_951A
|
| gptkbp:enactedBy |
gptkb:Tax_Cuts_and_Jobs_Act_of_2017
|
| gptkbp:excludes |
certain high-taxed income
|
| https://www.w3.org/2000/01/rdf-schema#label |
global intangible low-taxed income (GILTI)
|
| gptkbp:purpose |
discourage profit shifting to low-tax jurisdictions
|
| gptkbp:relatedTo |
gptkb:Subpart_F_income
gptkb:foreign_tax_credit controlled foreign corporation |
| gptkbp:startDate |
2018
|
| gptkbp:subject |
gptkb:Section_951A_of_the_Internal_Revenue_Code
|
| gptkbp:taxedAt |
U.S. shareholder level
|
| gptkbp:taxStatus |
up to 37% (for individuals, before deductions and credits)
10.5% (effective, before foreign tax credits, for corporations) |
| gptkbp:bfsParent |
gptkb:Tax_Cuts_and_Jobs_Act_of_2017
|
| gptkbp:bfsLayer |
5
|