Monte Silver, the Israel-based American tax attorney best known recently for his efforts aimed at forcing U.S. officials to fix a number of apparently unintentional but significant consequences for small business owners that were contained in President Trump's 2017 tax reform legislation, will host a free, two-part webinar on the so-called "global intangible low-taxed income" (GILTI) provisions of that tax reform package next Thursday, July 30.  

The U.S. Treasury Department on Monday issued what it said was a "final regulation" addressing how income earned by foreign corporations that has already been subject to a high rate of foreign tax may declared, in order to "allow taxpayers to exclude certain high-taxed income of a controlled foreign corporation from their Global Intangible Low Taxed Income (GILTI) computation on an elective basis".

Monte Silver, the American tax attorney resident in Israel who has been challenging elements of President Trump’s 2017 Tax Cuts & Jobs Act (TCJA) that he says would devastate small overseas businesses run by Americans – such as his – said final regulations issued by the U.S. Treasury Department yesterday represented a “huge win for our advocacy”.