Rev. December 2021
Form 8993 is a tax form for reporting Foreign-Derived Intangible Income (FDII) and Global Intangible Low-Taxed Income (GILTI). The form includes two parts: Part I determines DEI and Deemed Intangible Income (DII), and Part II determines FDDEI. Part I calculates gross income, exclusions under sections 951 and 951A, financial services income, CFC dividends, domestic oil and gas extraction income, and foreign branch income to determine DEI. Part II calculates allocable deductions, interest deductions, research and experimental deductions, other apportioned deductions, and total deductions to determine FDDEI. The form then calculates the FDII and GILTI deductions based on the FDDEI/DEI ratio and other instructions provided.
The FDII deduction is calculated by multiplying the FDII (as calculated on Line 21 of Form 8993) by 37.5% (0.375).
Form 8993, also known as the 'Corporate Dividends Received Statement,' is used by domestic corporations to calculate and report the foreign-derived intangible income (FDII) deduction and the global intangible low-taxed income (GILTI) inclusion under the Internal Revenue Code (IRC).
Form 8993 requires domestic corporations to report their foreign-derived intangible income (FDII), global intangible low-taxed income (GILTI), and any related dividends received. The form also includes worksheets for calculating the FDII reduction, GILTI reduction, and determining the FDII deduction and GILTI deduction.
Form 8993 is one of Tax forms that are documents used to report information related to taxes to the relevant tax authority. There are various types of tax forms, including federal, state, and local tax forms, which can vary depending on the taxpayer's circumstances and location.
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