This bill, known as the "Unfair Tax Prevention Act," amends Section 59A of the Internal Revenue Code of 1986 to significantly modify the application of the Base Erosion and Anti-Abuse Tax (BEAT) . The primary purpose is to address certain entities connected to jurisdictions that have implemented an extraterritorial tax. It introduces new rules specifically for "foreign-owned extraterritorial tax regime entities" to ensure they are subject to BEAT under expanded conditions. Under these new provisions, a foreign-owned extraterritorial tax regime entity will automatically be treated as an applicable taxpayer for BEAT purposes. A key change is that 50 percent of such an entity's cost of goods sold will be considered a base erosion tax benefit. An "extraterritorial tax" is defined as any foreign tax imposed on a corporation based on income or profits received by a person connected to that corporation through a chain of ownership, excluding direct ownership interests, aiming to capture taxes that extend beyond traditional jurisdictional boundaries.