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Treasury, IRS issue proposed regulations on BEAT

Tammy Whitehouse | January 16, 2019

The U.S. Treasury and the Internal Revenue Service have issued proposed regulations on the base erosion and anti-abuse tax established under the Tax Cuts and Jobs Act.

The tax reform law made a number of changes to the way the United States taxes international activity, and that includes the establishment of the BEAT as a minimum tax on larger corporate entities under Section 59A of the Internal Revenue Code. Where it applies, the base erosion minimum tax is added to a taxpayer’s regular tax liability, primarily affecting corporate taxpayers with gross receipts of more than $500 million over a three-year...

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