US Exemptions and Global Agreement on Minimum Corporate Tax
TL;DR
U.S.-based multinational companies are exempt from a new global tax deal finalized by the OECD, which aims to prevent profit shifting to low-tax countries, but excludes large U.S. firms from the 15% minimum tax, sparking criticism from tax transparency groups and praise from congressional Republicans.
- US-based multinational companies will be exempt from global tax deal AP News
- OECD collapse will lock in countries’ tax losses to US firms Tax Justice Network
- US wins exemptions from global minimum corporate tax rules Financial Times
- OECD Finalizes Agreement on Global Corporate Minimum Tax Bloomberg.com
- More than 145 countries agree on update to global minimum tax deal, addressing US concerns Reuters
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