Whoops! If this website isn't showing properly, it could be that you're using an old browser. For the full American Magazine experience, click here for details on updating your internet browser.


The American masthead
Tax Office Scales

Webinar to Outline GILTI Successes

A free webinar will outline the final GILTI regulations and how they affect Americans abroad who run small businesses

Published on July 23, 2020

The past few weeks have seen big wins in the campaign against GILTI taxes and their impact on overseas Americans who run small businesses. Monte Silver, a US Tax Attorney and leading advocate in the GILTI case, explained earlier this month how relief had been won for overseas Americans on the GILTI regulations. Now, Mr Silver has outlined that the final regulations published the IRS go much further in offering complete exemption to some businesses.

In a blog posted on his website, Mr Silver wrote that "Yesterday, Treasury issues final regulations that exclude from the GILTI regime all corporate income which is taxed at least 18.9% in the country of residence. In essence it means this: if your company is subject to corporate tax of 18.9% on all its income, then none of that income is subject to GILTI. And since you have no GILTI income, YOU DO NOT HAVE TO COMPLY WITH GILTI AT ALL!!!!!"

NB: You can see the latest corporation tax rates for the UK at www.gov.uk/government/publications/rates-and-allowances-corporation-tax/rates-and-allowances-corporation-tax

To answer any questions about the new regulations, Mr Silver is hosting a free to attend webinar on Thursday July 30. There are two sessions of the webinar, one at a time suited to those in Asia and Europe, and another suited to those in America and Europe. Details on the timings and how to register are below:

Asia/Europe – Japan/Seoul 7pm, Perth/Beijing 6pm, Israel 1pm, France/Germany 12 noon, London 11 am

To Register: https://us02web.zoom.us/webinar/register/WN_bTdpt5P2RxKFVM90KR3azA

Americans/Europe - PST 9am, EST 12pm, London 5pm, France/Germany 6pm, Israel 7pm

To Register: https://us02web.zoom.us/webinar/register/WN_jEpG79KSQYGquqXxuoCqnA


The American

Get Your Magazine

Support The American - the magazine that supports overseas Americans - by subscribing or buying a copy

Subscribe Now

The Newsletter

The free essential weekly read for overseas Americans. Join us!

Join Now


Tanager Wealth Management

My Expat Taxes

© All contents of www.theamerican.co.uk and The American copyright Blue Edge Publishing Ltd. 1976–2021
The views & opinions of all contributors are not necessarily those of the publishers. While every effort is made to ensure that all content is accurate
at time of publication, the publishers, editors and contributors cannot accept liability for errors or omissions or any loss arising from reliance on it.
Privacy Policy       Archive