IRS to Tighten Foreign Tax Anti-Abuse Rules Amid Comment Deluge

Jan. 29, 2019, 6:53 PM

The IRS is taking another crack at proposed rules for preventing abuse of the 2017 tax overhaul’s global intangible low-taxed income provision after hearing from tax professionals that the rules were too broad.

“We’ve gotten the comments and are trying to tailor the anti-abuse rules to be more specific to what we’re concerned about,” Jeffrey G. Mitchell, branch chief in the IRS’s office of the associate chief counsel (International) said during a Jan. 29 tax conference in Washington.

  • As part of its creation of a quasi-territorial tax system, the 2017 tax law implemented a levy on global intangible low-taxed ...

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