OIRA Receives Proposed and Final BEAT Regulations

The Office of Information and Regulatory Affairs (OIRA) has received both proposed and final regulations related to the base erosion and anti-abuse tax (BEAT) under section 59A. Section 59A generally operates as a minimum tax on income without regard to certain deductible payments made to foreign related parties. The proposed and final regulations are not deemed to be economically significant, meaning that OIRA will have 45 days to review the regulations.

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