Page 158 - International Taxation IRS Training Guides
P. 158
Overview of
Post-TCJA US Tax System
Worldwide components of
TCJA: GILTI, subpart F
Territorial
components of TCJA: participation
exemption
US tax system has been described by some as
New
“taxed now
or never” – now under GILTI/subpart F,
never under participation exemption
13
