author_orbitax
Orbitax

Share This Article

U.S. IRS Issues Corrections to Proposed FDII/GILTI Deduction Regs

12 April 2019

|

Approved Changes

|

United States

On 11 April 2019, a correction document to the proposed regulations on the deduction for foreign-derived intangible income (FDII) and global intangible low-taxed income (GILTI) (REG-104464-18). This includes the addition of a definition for financial services income and a clarification in relation to the determination of gross deduction eligible income (DEI) and gross foreign-derived deduction eligible income (FDDEI): 1. On page 8190, in the preamble, under the heading: "2. Determination of DEI and FDDEI", in the third column, in the 23rd line, add a sentence at the end of the paragraph to read: "Finally, the proposed regulations define financial services...