{"id":119790,"date":"2023-10-05T01:28:12","date_gmt":"2023-10-05T01:28:12","guid":{"rendered":"https:\/\/namso-gen.co\/blog\/what-is-gilti-tax\/"},"modified":"2023-10-05T01:28:12","modified_gmt":"2023-10-05T01:28:12","slug":"what-is-gilti-tax","status":"publish","type":"post","link":"https:\/\/namso-gen.co\/blog\/what-is-gilti-tax\/","title":{"rendered":"What is GILTI tax?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_62 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/namso-gen.co\/blog\/what-is-gilti-tax\/#The_Global_Intangible_Low-Taxed_Income_GILTI_tax_Understanding_its_Impact\" title=\"The Global Intangible Low-Taxed Income (GILTI) tax: Understanding its Impact\">The Global Intangible Low-Taxed Income (GILTI) tax: Understanding its Impact<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/namso-gen.co\/blog\/what-is-gilti-tax\/#What_is_GILTI_tax\" title=\"What is GILTI tax?\">What is GILTI tax?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/namso-gen.co\/blog\/what-is-gilti-tax\/#FAQs\" title=\"FAQs\">FAQs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/namso-gen.co\/blog\/what-is-gilti-tax\/#1_Why_was_GILTI_tax_introduced\" title=\"1. Why was GILTI tax introduced?\">1. Why was GILTI tax introduced?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/namso-gen.co\/blog\/what-is-gilti-tax\/#2_Who_is_subject_to_GILTI_tax\" title=\"2. Who is subject to GILTI tax?\">2. Who is subject to GILTI tax?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/namso-gen.co\/blog\/what-is-gilti-tax\/#3_What_constitutes_a_controlled_foreign_corporation_CFC\" title=\"3. What constitutes a controlled foreign corporation (CFC)?\">3. What constitutes a controlled foreign corporation (CFC)?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/namso-gen.co\/blog\/what-is-gilti-tax\/#4_How_is_GILTI_tax_calculated\" title=\"4. How is GILTI tax calculated?\">4. How is GILTI tax calculated?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/namso-gen.co\/blog\/what-is-gilti-tax\/#5_Is_there_a_minimum_threshold_for_GILTI_tax\" title=\"5. Is there a minimum threshold for GILTI tax?\">5. Is there a minimum threshold for GILTI tax?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/namso-gen.co\/blog\/what-is-gilti-tax\/#6_Are_there_any_exemptions_from_GILTI_tax\" title=\"6. Are there any exemptions from GILTI tax?\">6. Are there any exemptions from GILTI tax?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/namso-gen.co\/blog\/what-is-gilti-tax\/#7_What_is_the_high-tax_exclusion\" title=\"7. What is the high-tax exclusion?\">7. What is the high-tax exclusion?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/namso-gen.co\/blog\/what-is-gilti-tax\/#8_What_is_the_de_minimis_exception\" title=\"8. What is the de minimis exception?\">8. What is the de minimis exception?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/namso-gen.co\/blog\/what-is-gilti-tax\/#9_How_does_GILTI_tax_impact_small_businesses\" title=\"9. How does GILTI tax impact small businesses?\">9. How does GILTI tax impact small businesses?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/namso-gen.co\/blog\/what-is-gilti-tax\/#10_Are_there_any_compliance_challenges_associated_with_GILTI_tax\" title=\"10. Are there any compliance challenges associated with GILTI tax?\">10. Are there any compliance challenges associated with GILTI tax?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/namso-gen.co\/blog\/what-is-gilti-tax\/#11_Can_GILTI_tax_be_offset_by_foreign_tax_credits\" title=\"11. Can GILTI tax be offset by foreign tax credits?\">11. Can GILTI tax be offset by foreign tax credits?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/namso-gen.co\/blog\/what-is-gilti-tax\/#12_How_can_taxpayers_mitigate_the_impact_of_GILTI_tax\" title=\"12. How can taxpayers mitigate the impact of GILTI tax?\">12. How can taxpayers mitigate the impact of GILTI tax?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"The_Global_Intangible_Low-Taxed_Income_GILTI_tax_Understanding_its_Impact\"><\/span>The Global Intangible Low-Taxed Income (GILTI) tax: Understanding its Impact<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The Global Intangible Low-Taxed Income (GILTI) tax has been a hot topic in the world of international taxation since its introduction in the Tax Cuts and Jobs Act of 2017. Many taxpayers are still trying to grasp the complexities of this tax and how it may affect them. In this article, we will delve into what GILTI tax is and address some frequently asked questions to provide a clearer understanding.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_GILTI_tax\"><\/span>What is GILTI tax?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>GILTI tax stands for Global Intangible Low-Taxed Income tax. It is a provision in the U.S. tax code that requires U.S. shareholders of controlled foreign corporations (CFCs) to include their share of certain low-taxed income in their taxable income, regardless of whether the income is actually distributed to them.<\/strong><\/p>\n<h3><span class=\"ez-toc-section\" id=\"FAQs\"><\/span>FAQs<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<h3><span class=\"ez-toc-section\" id=\"1_Why_was_GILTI_tax_introduced\"><\/span>1. Why was GILTI tax introduced?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>GILTI tax was introduced to discourage U.S. multinational corporations from shifting income to low-tax jurisdictions to avoid paying U.S. taxes.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"2_Who_is_subject_to_GILTI_tax\"><\/span>2. Who is subject to GILTI tax?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>U.S. shareholders of controlled foreign corporations (CFCs) are subject to GILTI tax.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"3_What_constitutes_a_controlled_foreign_corporation_CFC\"><\/span>3. What constitutes a controlled foreign corporation (CFC)?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>A CFC is a foreign corporation in which U.S. shareholders own more than 50% of the total combined voting power of all classes of stock entitled to vote.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"4_How_is_GILTI_tax_calculated\"><\/span>4. How is GILTI tax calculated?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>GILTI tax is calculated by including a U.S. shareholder&#8217;s share of the CFC&#8217;s income that exceeds a deemed return on the CFC&#8217;s tangible assets in the U.S. shareholder&#8217;s taxable income.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"5_Is_there_a_minimum_threshold_for_GILTI_tax\"><\/span>5. Is there a minimum threshold for GILTI tax?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Yes, there is a deduction called the Section 250 deduction that allows for a 50% deduction of GILTI income, effectively reducing the tax rate.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"6_Are_there_any_exemptions_from_GILTI_tax\"><\/span>6. Are there any exemptions from GILTI tax?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>There are certain exceptions and exclusions available, such as the high-tax exclusion and the de minimis exception.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"7_What_is_the_high-tax_exclusion\"><\/span>7. What is the high-tax exclusion?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The high-tax exclusion allows U.S. shareholders of CFCs to exclude income that is subject to a foreign tax rate greater than 90% of the U.S. corporate tax rate.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"8_What_is_the_de_minimis_exception\"><\/span>8. What is the de minimis exception?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The de minimis exception allows U.S. shareholders of CFCs to exclude GILTI income if the CFC&#8217;s income falls below a certain threshold.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"9_How_does_GILTI_tax_impact_small_businesses\"><\/span>9. How does GILTI tax impact small businesses?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Small businesses with controlled foreign subsidiaries may also be subject to GILTI tax, potentially increasing their tax liabilities.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"10_Are_there_any_compliance_challenges_associated_with_GILTI_tax\"><\/span>10. Are there any compliance challenges associated with GILTI tax?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Complying with the complex rules and calculations of GILTI tax can be challenging for taxpayers, especially those with multiple foreign subsidiaries.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"11_Can_GILTI_tax_be_offset_by_foreign_tax_credits\"><\/span>11. Can GILTI tax be offset by foreign tax credits?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Yes, taxpayers can offset their GILTI tax liability by claiming foreign tax credits for taxes paid to foreign jurisdictions on the same income.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"12_How_can_taxpayers_mitigate_the_impact_of_GILTI_tax\"><\/span>12. How can taxpayers mitigate the impact of GILTI tax?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Taxpayers can engage with tax professionals to structure their international operations in a tax-efficient manner and take advantage of available deductions and exclusions to minimize their GILTI tax liability.<\/p>\n<p>In conclusion, the GILTI tax is a significant consideration for U.S. shareholders of controlled foreign corporations, impacting their tax obligations on certain low-taxed foreign income. Understanding the intricacies of GILTI tax and seeking professional guidance can help taxpayers navigate this complex area of international taxation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Global Intangible Low-Taxed Income (GILTI) tax: Understanding its Impact The Global Intangible Low-Taxed Income (GILTI) tax has been a hot topic in the world of international taxation since its introduction in the Tax Cuts and Jobs Act of 2017. Many taxpayers are still trying to grasp the complexities of this tax and how it &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"What is GILTI tax?\" class=\"read-more button\" href=\"https:\/\/namso-gen.co\/blog\/what-is-gilti-tax\/#more-119790\">Read more<span class=\"screen-reader-text\">What is GILTI tax?<\/span><\/a><\/p>\n","protected":false},"author":21,"featured_media":107420,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86279],"tags":[],"class_list":["post-119790","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-learn","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is GILTI tax?<\/title>\n<meta name=\"description\" content=\"The Global Intangible Low-Taxed Income (GILTI) tax: Understanding its Impact The Global Intangible Low-Taxed Income (GILTI) tax has been a hot topic in\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/namso-gen.co\/blog\/what-is-gilti-tax\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is GILTI tax?\" \/>\n<meta property=\"og:description\" content=\"The Global Intangible Low-Taxed Income (GILTI) tax: Understanding its Impact The Global Intangible Low-Taxed Income (GILTI) tax has been a hot topic in\" \/>\n<meta property=\"og:url\" content=\"https:\/\/namso-gen.co\/blog\/what-is-gilti-tax\/\" \/>\n<meta property=\"og:site_name\" content=\"Namso Gen Blog - 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