On July 4, 2025, President Trump signed into law the One Big Beautiful Bill Act (OBBBA), which includes international tax provisions aimed at modifying how U.S. and foreign companies design their global supply chains. A key provision of the bill that carries out this policy objective is the revision of the Global Intangible Low-Taxed Income (GILTI) regime. This article provides a brief background of the GILTI tax and then explains the OBBBA modifications to GILTI that will likely impact global supply chains. Read more.
Compliments Mowery & Schoenfeld