OECD to Address Refundable Tax Credits: Treasury Official (1)

The OECD will have more to say on what constitutes a “refundable” tax credit for purposes of determining how credits are treated under the global tax agreement’s minimum tax, a Treasury Department official said Friday.

“There will be additional guidance about the definition of qualified refundable tax credits,” said Isaac Wood, an attorney-advisor in Treasury’s Office of Tax Policy, speaking at a conference hosted by the American Bar Association’s Tax Section.

• Companies have voiced concerns that the OECD agreement’s 15% global minimum tax could effectively erase the benefits of U.S. tax credits and other incentives that take a company’s ...