The U.S. IRS has announced the release of final and proposed regulations containing guidance on income subject to a high rate of foreign tax for the purpose of the GILTI rules. The regulations are scheduled to be published in the Federal Register on 23 July 2020.
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Treasury, IRS issue final and proposed regulations on income subject to a high rate of foreign tax
WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued a final regulation (PDF) addressing…