Layla Asali commented on recent regulations released by the U.S. Department of the Treasury providing guidance on the Tax Cuts and Jobs Act's (TCJA's) Global Intangible Low-Taxed Income (GILTI) provision. Asali addressed the high-tax exception in the new proposed GILTI regulations. "It's a very welcome step for companies, since over the past 18 months since the statute was enacted, the issue of high-tax GILTI income being potentially subject to residual U.S. tax has been a really difficult issue for certain U.S. companies," Asali said. "It's a good tax policy result."