Senate Tax Bill Differs from House Bill in Treatment of Multinationals

The Senate recently released the legislative text of their version of the tax bill. The bill defers in several key respects from the House bill in its treatment of the income of multinational companies, particularly in the way that it addresses global intangible low-taxed income, foreign derived intangible income, and base erosion. The Senate vote could occur as early as November 30th. If the legislation is approved, these differences (among others) will need to be addressed in a conference committee.

Read More: ‘Future Tax Traps’ Lurk for Multinationals in Senate’s Proposal


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