US Secures Exemptions in Global Corporate Minimum Tax Deal
TL;DR
The OECD's agreement to exempt the US from its Pillar 2 tax reform is criticized for undermining global tax sovereignty and costing countries billions in lost revenue, with the Tax Justice Network highlighting the shift of profits and tax abuses by US multinationals. Meanwhile, UN-led negotiations are advancing a more equitable 'pay-where-you-play' approach, challenging the US and OECD's influence on global tax rules.
Topics:businessworld#oecd#tax-reform#tax-sovereignty#un-tax-convention#us-multinational-corporations#world
- OECD collapse will lock in countries’ tax losses to US firms Tax Justice Network
- US will be exempt from global tax deal targeting profits of large multinationals The Guardian
- 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
- US wins exemptions from global minimum corporate tax rules Financial Times
Want the full story? Read the original reporting
Read on Tax Justice Network