HR 6015
115th Congress
House
Taxation
Foreign and international corporations
Income tax deductions
Tax administration and collection, taxpayers
Taxation of foreign income
Per-Country Minimum Act
Introduced: June 6, 2018
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 6, 2018
Referred to the House Committee on Ways and Means.
Jun 6, 2018
Introduced in House
Plain-English summary
Per-Country Minimum Act
This bill modifies the tax treatment of foreign source income of domestic corporations to: (1) increase taxes that apply to global intangible income by reducing the deduction that is allowed under current law, (2) eliminate a provision that allows companies to deduct a portion of the tangible assets of their controlled foreign corporations (CFCs) before the tax on foreign income applies, and (3) require net CFC tested income to be determined on a country-by-country basis rather than globally.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1