ITI Supplemental Letter R&E Expense Allocation
Overview
Department of the Treasury and the Internal Revenue Service to issue proposed regulations that provide guidance related to how expenses should be allocated and apportioned under the new Global Intangible Low-Taxed Income (GILTI) regime. 2 ITI represents some of the world’s most innovative companies, and our sector spends over $200 billion on R&E annually, making how these expenses are allocated…