GILTI Becomes a Qualifying IIR – Now What?
International Fiscal Association (IFA), USA Branch
Tax attorney Joshua Odintz will join a webinar discussion on the potential implications of reforms to Global Intangible Low-Taxed Income (GILTI) regulations in the Build Back Better Act. Panelists will explain how Pillar 2 of the Organization for Economic Cooperation and Development's (OECD) global tax plan will apply if the Build Back Better Act is enacted and GILTI is reformed, including what it would mean for GILTI to be a qualifying Income Inclusion Rule (IIR). They will also explore questions surrounding what effects Pillar 2 could continue to have on U.S. parent entities, foreign disregarded entities and branches, and U.S. intermediate holding companies, as well as Pillar 2 reporting and compliance requirements that could remain for U.S.-based companies.