Global Intangible Low-Tax Income (GILTI) Explained
In our latest YouTube video, Andersen Tax LLP partners Warren Dueck and Steven Flynn explain GILTI, a U.S. tax on the earnings of non-US corporations owned by U.S. investors. Warren and Steven cover how GILTI impacts U.S. persons, including those resident in Canada, who own Canadian and other non-U.S. corporations. They discuss why effective tax planning is essential avoid double taxation and minimize high tax rates.
Note: GILTI will apply most significantly to corporations that have limited tangible assets such as professional corporations, like doctors, lawyers and engineers but also to others with a similar asset profile.
If you think you may have a GILTI tax liability and you want to understand your options to optimize your tax position, we invite you to contact us.