The U.S. Treasury Department and IRS today released for publication in the Federal Register a notice of a public hearing on proposed regulations concerning the deduction for “foreign-derived intangible income” (FDII) and “global intangible low-taxed income” (GILTI) under section 250.
Today’s notice [PDF 196 KB] announces that the public hearing will be held on Wednesday, July 10, 2019.
Outlines of topics to be discussed at the public hearing must be received by Monday, July 1, 2019.
The subject of the public hearing will be the proposed regulations released in March 2019 concerning the FDII and GILTI regimes—provisions enacted by the 2017 U.S. tax law (Pub. L. No. 115-97, date of enactment December 22, 2017). The FDII and GILTI regimes are part of the significant changes made to the U.S. international tax system by the 2017 tax law. Read a KPMG report about the proposed regulations: TaxNewsFlash
The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.