GILTI (Global Intangible Low-taxed Income) | U.S. Taxation скачать в хорошем качестве

GILTI (Global Intangible Low-taxed Income) | U.S. Taxation

To prevent U.S. firms from shifting profits overseas to avoid by giving intellectual property to foreign subsidiaries, the Tax Cuts and Jobs Act of 2017 created a tax on Global Intangible Low-taxed Income (GILTI). GILTI is different from Subpart F and does not include Subpart F items. However, GILTI is similar to Subpart F in that the U.S. firm can be taxed on overseas profits even though those profits are not distributed to the U.S. firm. GILTI is calculated as follows: active income of controlled foreign corporation - (depreciable tangible property * 10%) = GILTI In short, Congress assumed that foreign firms would earn a return of 10% on depreciable tangible property (e.g., buildings, equipment). Thus, any income over and above that amount is deemed to be GILTI. Once you have calculated GILTI, a U.S. corporation would calculate the tax due as follows: ([GILTI - (50% of GILTI)] * corporate income tax rate) - (80% of foreign taxes paid) The U.S. corporate income tax rate as of 2020 is 21%. Thus, if the foreign company paid no foreign income taxes, the effective tax rate on the GILTI would be 10.5%.— Edspira is the creation of Michael McLaughlin, an award-winning professor who went from teenage homelessness to a PhD. Edspira’s mission is to make a high-quality business education freely available to the world. — SUBSCRIBE FOR A FREE 53-PAGE GUIDE TO THE FINANCIAL STATEMENTS, PLUS: • A 23-PAGE GUIDE TO MANAGERIAL ACCOUNTING • A 44-PAGE GUIDE TO U.S. TAXATION • A 75-PAGE GUIDE TO FINANCIAL STATEMENT ANALYSIS • MANY MORE FREE PDF GUIDES AND SPREADSHEETS http://eepurl.com/dIaa5z — SUPPORT EDSPIRA ON PATREON *  / prof_mclaughlin   — GET CERTIFIED IN FINANCIAL STATEMENT ANALYSIS, IFRS 16, AND ASSET-LIABILITY MANAGEMENT https://edspira.thinkific.com — LISTEN TO THE SCHEME PODCAST Apple Podcasts: https://podcasts.apple.com/us/podcast... Spotify: https://open.spotify.com/show/4WaNTqV... Website: https://www.edspira.com/podcast-2/ — GET TAX TIPS ON TIKTOK   / prof_mclaughlin   — ACCESS INDEX OF VIDEOS https://www.edspira.com/index — CONNECT WITH EDSPIRA Facebook:   / edspira   Instagram:   / edspiradotcom   LinkedIn:   / edspira   — CONNECT WITH MICHAEL Twitter:   / prof_mclaughlin   LinkedIn:   / prof-michael-mclaughlin   — ABOUT EDSPIRA AND ITS CREATOR https://www.edspira.com/about/ https://michaelmclaughlin.com