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US House Ways and Means Committee approves tax reconciliation bill, including several international tax provisions

|Tax Alerts, Legislation & Policy, Tr ...|United States
United States

  • The approved budget reconciliation bill (the Bill) would permanently extend current GILTI, FDII, and BEAT effective tax rates and prevent other scheduled changes to the BEAT.
  • The Bill would add new Section 899, which would automatically apply when a foreign country has an undertaxed profits rule (UTPR), digital services tax (DST), diverted profits tax (DPT) or any other "unfair foreign tax" as prov…

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