Companies Want to File Single, Global Form for Minimum Tax

Multinational businesses are asking the OECD to produce a standardized form they can file when paying the 15% global minimum tax.

“In order to provide taxpayers with a high level of certainty, all countries should adopt a standardized submission framework,” said Naohisa Oishi a manager in the global tax team of Sumitomo Corporation, who was representing Japanese business federation Keidanren.

In October, more the 130 countries signed up to a two-pillar agreement to change how multinationals are taxed. Pillar two of this plan creates a global minimum tax rate of 15% that is to be calculated by multinationals on a ...