,i  #aah? ,,congress  #b;d ,session  ,h4
 ,r4 #ajejc  ,,9 ,,! ,,h\se ,,(         
,,repres5tatives  ,decemb] #ah1         
#bjbd,ms4 ,plaskett 7= h]self & ,mr4    
,e/es7 introduc$ ! foll[+ bill2 :i* 0   
ref]r$ to ! ,committee on ,ways & ,means
  ,a ,,bill  ,to am5d ! ,int]nal ,rev5ue
 ,code ( #aihf to det]m9e global        
intangible l[-tax$ income )\t reg>d to  
c]ta9 income d]iv$ f s]vices p]=m$ 9 !  
,virg9 ,isl&s4  #a4 ,%ort title ,?is    
,act may be cit$ z ! ,re/ore ,economic  
,vitality & ,inve/m5t 9 ! ,virg9 ,isl&s 
,act or ! ,,revive ,,vi ,act4  #b4      
,global intangible l[-tax$ income       
det]m9$ )\t reg>d to c]ta9 income d]iv$ 
f s]vices p]=m$ 9 ! ,virg9 ,isl&s  7a7  
,9 g5]al ,section #iea;,a7c77#b77;,a77i7
 ( ! ,int]nal ,rev5ue ,code ( #aihf is  
am5d$ by /rik+ & at ! end ( subclause   
7,,iv71 by /rik+ ! p]iod at ! end (     
subclause 7,v7 & ins]t+ 1 &1 & by add+  
at ! end ! foll[+ new subclause3  7,,vi7
 9 ! case ( any specifi$ ,unit$ ,/ates  
%>ehold]1 any qualifi$ ,virg9 ,isl&s    

s]vices income4  4  7b7 ,def9itions &   
special rules ,section #iea;,a7c77#b7 ( 
su* ,code is am5d$ by add+ at ! end !   
foll[+ new subp>agraph3  7,c7           
,provisions relat$ to qualifi$ ,virg9   
,isl&s s]vices income ,= purposes (     
subp>agraph 7,a77i77,,vi7-- 7i7         
,qualifi$ ,virg9 ,isl&s s]vices income  
,! t]m qualifi$ ,virg9 ,isl&s s]vices   
income means any gross income :i*       
satisfies all ( ! foll[+ requirem5ts3   
7,i7 ,su* gross income is comp5sation = 
labor or p]sonal s]vices 7)9 ! mean+ (  
section #hfb7;a77#c77 p]=m$ 9 ! ,virg9  
,isl&s by a corporation =m$ "u ! laws ( 
! ,virg9 ,isl&s4  7,,ii7 ,su* gross     
income is attributable to s]vices p]=m$ 
f )9 ! ,virg9 ,isl&s by individuals = ! 
b5efit ( su* corporation4  7,,iii7 ,su* 
gross income is effectively connect$ ) !
 conduct ( a trade or bus9ess )9 !      
,virg9 ,isl&s4  7ii7 ,specifi$ ,unit$   
,/ates %>ehold] ,! t]m specifi$ ,unit$  
,/ates %>ehold] means any ,unit$ ,/ates 
%>ehold] :i* is-- 7,i7 an individual1   

tru/1 or e/ate1 or  7,,ii7 a closely    
held ,c corporation 7z def9$ 9 section  
#dfi7;j77#a77 if su* corporation acquir$
 its direct or indirect equity int]e/ 9 
! =eign corporation :i* d]iv$ ! qualifi$
 ,virg9 ,isl&s s]vices income be=e      
,decemb] #ca1 #bjbc4  7iii7 ,regulations
 ,! ,secret>y %all prescribe su*        
regulations or o!r guidance z may be    
necess>y or appropriate to c>ry out ?is 
subp>agraph & subp>agraph 7,a77i77,,vi71
 includ+ regulations or o!r guidance to 
prev5t ! abuse ( su* subp>agraphs4  4   
7c7 ,effective date ,! am5dm5ts made by 
?is section %all apply to taxable ye>s (
 =eign corporations beg9n+ aft] ! date (
 ! enactm5t ( ?is ,act1 & to taxable    
ye>s ( ,unit$ ,/ates %>ehold]s ) or )9  
:i* su* taxable ye>s ( =eign            
corporations end4