Countries Agree to Treatment of US Minimum Tax in Global Deal (1)

Governments have agreed on the answers to several crucial questions about the OECD’s global minimum tax, helping set the stage for countries to start applying the rules next year.

The 2021 global tax deal’s Pillar Two will create a 15% minimum effective corporate tax rate around the world as countries implement its rules. After months of wrangling, the EU in December secured agreement among its member states on a directive implementing the minimum tax, which will be introduced into member countries’ laws by the end of 2023. A number of other countries have started work to implement the rules as ...