Multinationals Get First Look at 15% Minimum Tax Rules (1)

Countries have for the first time gotten a detailed picture of the rules they’ll use to implement a newly agreed 15% global minimum tax rate.

But a key question—how the global rules will coexist with the U.S.'s own minimum tax—will be addressed early next year.

Model legislation—released Monday by the Organization for Economic Cooperation and Development—is the first major stage in the implementation of a far-reaching global tax deal signed by nearly 140 countries in October.

The minimum tax, known as Pillar Two, aims to discourage countries from competing to attract corporations by offering low tax rates. The new ...