The Tax Cuts and Jobs Act (TCJA) significantly changed the way in which the tax code treats the foreign profits of U.S.-based multinational corporations.
The new tax law eliminated the additional domestic tax on foreign profits repatriated to the U.S. by enacting a “participation exemption,” the centerpiece of what is called a “territorial” corporate tax system.
At the same time, the TCJA enacted new anti-base erosion provisions aimed at income stripping and a minimum tax on certain foreign-source profits.
In this video, several of today’s leading international tax experts discuss the new international tax laws, including:
The new dividend exemption system
GILTI
FDII
BEAT
In addition to shedding light on these provisions and their workings, panelists discuss the real-world application of the U.S.’s new international tax system.
Panelists include:
Pat Brown, Vice President & Counsel, Tax, GE Power and Renewables
Dave Lewis, Former VP of Global Tax, Eli Lilly and Company
Kyle Pomerleau, Director of Federal Projects
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