The Build Back Better Act (Bill H.R. 5376) was passed in the U.S. House of Representatives on 19 November 2021 by a vote of 220-213. As passed, the bill contains several corporate tax provisions, including a new 15% minimum tax on adjusted financial statement income for corporations with such income in excess of USD 1 billion, a 1% excise tax on stock repurchases, increased taxation of Global Intangible Low Taxed Income (GILTI) and Foreign-Derived Intangible Income (FDII) through reduced dedu…