Companies Like US Carve-Out From Global Tax, But Still Worry

Corporate tax officials support the recent agreement to exempt US companies from key provisions of the global minimum tax, but they’re already fretting about what might happen to the agreement a few years from now.

While Treasury Department officials have said the agreement to carve out US companies is permanent, the company officials expressed concerns about what could happen if the White House were to change hands in the next presidential election in 2028, and an administration more supportive of the global tax than President Donald Trump’s administration were to take power.

Not being subject to the global tax provisions ...