OECD Wants Input on Tax Deal’s Financial Services Carveout (1)

The Organization for Economic Cooperation and Development is looking for feedback on what regulated financial services profits will be carved out of the global tax deal’s reallocation rules.

Last year, 137 countries agreed on a two-pillar plan to overhaul global taxation, including a 15% global minimum tax and the reallocation of a portion of the world’s largest multinationals’ profits.

Under the agreement, the profit reallocation rules—known as Pillar One’s Amount A—apply to companies with at least 20 billion euros ($21 billion) in annual turnover and at least 10% profitability.

Friday’s draft asked for feedback on an exclusion for regulated financial ...