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Understanding GILTI and Its Impact on the U.S. Virgin Islands
As the complexities of international tax regulation continue to evolve, the Global Intangible Low-Taxed Income (GILTI) provision under the Tax Cuts and Jobs Act of 2017 stands out as a critically important element in shaping the economic landscape of U.S. territories, particularly the U.S. Virgin Islands (USVI). GILTI was designed to curb profit shifting by multinational corporations to low-tax jurisdictions, but its implications extend far beyond the borders of the mainland United States. for the USVI-a territory grappling with unique economic challenges-GILTI presents both opportunities and dilemmas. This article delves into the intricate relationship between GILTI and the USVI, examining how this provision affects local businesses, tax revenue, and the broader economic stability of the islands. As the region navigates the dual pressures of compliance and investment attraction, understanding GILTI’s nuances becomes essential for stakeholders aiming to foster lasting growth in the face of changing federal policies.
Understanding GILTI and Its Implications for the US Virgin Islands Economy
The Global Intangible Low-Taxed Income (GILTI) tax regime was introduced as part of the 2017 Tax Cuts and jobs Act, aiming to impose a minimum tax on foreign profits of US corporations. For the US Virgin Islands, which heavily relies on tax incentives to attract foreign investment, GILTI presents both challenges and…
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Author : Ava Thompson
Publish date : 2025-11-10 00:15:00
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