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For Department of State Use OnlyDepartment of State Division of Publications 312 Rosa L. Parks, 8th Floor Snodgrass/TN Tower Nashville, TN 37243 Phone: 615.741.2650 Email: publications. Information
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GIICY stands for Global Intangible Low-Taxed Income which is a tax term used to refer to income earned by foreign subsidiaries of a US company.
US companies with foreign subsidiaries that meet the criteria for GIICY are required to file GIICY.
GIICY is typically reported on Form 8992 which needs to be filed with the company's tax return.
The purpose of GIICY is to prevent US companies from shifting profits to low-tax jurisdictions.
The information reported on GIICY includes the amount of foreign income earned, taxes paid on that income, and the US tax owed on the income.
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