Senate tax writers in a new version of their sweeping tax bill reduced an anti-abuse levy meant to stop companies from making payments outside the US to low-tax jurisdictions.
The text, released early Saturday, changed the so-called base erosion and anti-abuse tax, or BEAT, to 10.5%. A previous Senate proposal set the BEAT rate at 14%.
BEAT is one of three novel taxes included in the Republicans’ 2017 tax overhaul. The rate currently sits at 10%, and without congressional action this year would’ve increased to 12.5% in 2026.
A previous version of the Senate bill also included a high-tax exemption ...
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