Nations Beside US Can Seek Own Version of Global Minimum Tax (1)

The “side-by-side” agreement that allows US companies to avoid some parts of the global minimum tax may similarly be used by other countries, an OECD official said Thursday.

After the January agreement, there is “a more accommodative regime” that accepts countries could have different forms of the global minimum tax and allows them to coexist, said John Peterson, head of division for cross border and international taxation at the OECD, speaking at the Pacific Rim Tax Conference in San Francisco.

The global minimum tax, under Pillar Two of the OECD’s 2021 agreement, requires companies to pay at least 15% ...