International Taxation: What's New Webinar (1 Hour)

Overview: 

Big changes are in store for companies operating overseas. The Biden Administration and Congress are both proposing major revisions to international taxation, as are foreign jurisdictions looking for a bigger share of corporate taxes. This timely new webinar will update tax and financial professionals on the latest rules and regulations, and what is currently being proposed.

  • Status of International Tax Projects
  • Comparison of Biden vs. Other Proposals
  • Global Intangible Low-Taxed Income Provisions
  • High Tax Exception
  • Foreign Derived Intangible Income
  • Base-Erosion and Anti-Abuse Tax
  • Section 163(j)

     ...and more.

Objective: 

To apprise accountants and tax professionals involved in international business of the expected changes to international taxation being proposed by the Biden Administration, Congress and foreign jurisdictions.

 

Presenters:

Jamal Aquil, Tax Associate, International, KPMG
Kevin Cunningham, Managing Director, KPMG

Emphasis: 

• Overview
   - Taxation of US Shareholders of
      CFC
   - Status of Certain International Tax
     Regulation Projects
     - Biden vs. Wyden Proposal
     - “Made in America” vs. “Over-
        hauling International Taxation”
• Global Intangible Low-Taxed
   Income (GILTI)
   - Changes to TCJA
   - Components of GILTI analysis
     - Controlled foreign corporation
     - US shareholder
     - Pro Rata share
     - GILTI inclusion and deduction
    - Foreign tax credit
  ­- GILTI calculation
    - Net CFC tested income
    - Net DTR
    - GILTI inclusion
• GILTI High-Tax Exception (GILTI-
   HTE)
   - Process flow
• Section 250 Deduction—Foreign
   Derived Intangible Income (FDII)
  - Definitional framework
  - Sales overview
  - Services overview
  - Section 250 deduction limitation
• Base-Erosion and Anti-Abuse Tax
  (BEAT)
  - Applicable taxpayer definition
  - Percentage test
• Section 163(j)
  - Overview and operative rule
  - Proposed repeal of earning
    stripping rules

Bottom
Prerequisite: 

Basic knowledge of federal taxation and some level of international taxation.

Preparation: 

No advance preparation required.

Level of Knowledge: 

Basic.

CPE Credit: 
1.00
NASBA Field of Study: 
Taxes