Indicate whether the following statements regarding international tax laws are true or false. Q+The GILTI provisions were the key provisions in the TCJA that shifted the U.S. International tax system closer to a worldwide tax system, Select) Q2: As part of the transition from the pre-to post-TCJA international U.S. tax system, the TCJA imposed a transition tax on untaxed accumulated foreign earnings. The applicable tax rates were 15.5% for foreign earnings held in liquid form and 8% for foreign earnings held in non-liquid form Select) 93: The GILTI and BEAT provisions are intended to prevent base erosion by effectively imposing a minimum level of taxes, GILTI is intended to impose a minimum tax on foreign intangible income: BEAT is intended to impose a minimum tax on a modified calculation of U.S. taxable income that excludes select payments made to foreign affiliates. Select) 04: FDI is intended to reward U.S. multinationals that keep intellectual property and the associated profits in the U.S. Select 1 Q5: The OECD'S BEPS project is a project supported by over 100 countries that aims to reform international tax rules to ensure MNEs pay a fair share of tax where they operate. Select Q6: The international tax rules under the pre-TCJA U.S. tax system created two primary distortions. First, it encouraged companies to repatriate foreign prohts even when it was not in the economic best interest of the company to do so. Second, it encouraged companies to move their legal headquarters out of the U.S. through what are called "inversions." (Select)