In the Headlines
July 3, 2025
Senate Strips Away BEAT Tweaks in Bill Sent Back to House
Tax Notes
Tax attorney Joshua Odintz was quoted in a Tax Notes article about changes the U.S. Senate made to the Base Erosion and Anti-Abuse Tax (BEAT) in the One Big Beautiful Bill Act, which remove several proposed provisions aimed at updating the international tax regime. According to Mr. Odintz, for the business community, these changes present a mixed bag — some businesses will benefit, while others will face higher tax burdens. He emphasized that the loss of the high-tax exception is a significant setback.
That exception would have been a "really important piece of ensuring that the BEAT was only taxing base-eroding payments. Making a payment to a higher-tax jurisdiction is not base-eroding," he said.
READ: Senate Strips Away BEAT Tweaks in Bill Sent Back to House (Subscription required)
That exception would have been a "really important piece of ensuring that the BEAT was only taxing base-eroding payments. Making a payment to a higher-tax jurisdiction is not base-eroding," he said.
READ: Senate Strips Away BEAT Tweaks in Bill Sent Back to House (Subscription required)