SB 104-06: Global Corporate Taxation Act (Passed)

[AGA]

Objection. I think that the phrasing "Atlasia-controlled" is too vague. Also, section 3 could be more specific.

[AGA]

Just because I would like to make a revision doesn't mean I oppose the bill overall. I would like to change Section 2 to say "international corporations incorporated in Atlasia" because "Atlasia controlled" is open to more interpretation.

Nay

[AGA]

Section 2. Definitions

(a) Global Intangible Low-Taxed Income (GILTI).—The term 'Global Intangible Low-Taxed Income' (GILTI) is a category of income (from intangible assets such as patents, trademarks, and copyrights) that is held abroad by Atlasia-controlled international corporations incorporated in Atlasia international corporations.

(b) International Company.—The term 'International Company' is a corporate organization that owns or controls the production of goods or services in at least one country other than its home country.

I'll support moving to a final vote after this amendment.

EDIT: Forgot to strikeout the words on the right.

[AGA]

Aye