OECD Working on Further Minimum Tax Guidance, Official Says

Countries are working on further guidance on the OECD’s 15% global minimum tax that will address issues related to accounting, as well as timing differences, an official said.

The minimum tax, known as Pillar Two, calls for companies to precisely calculate their effective tax rates in every jurisdiction where they’re operating, which has raised questions about how to treat differences between accounting systems, and timing differences between when companies report their profits and when they pay their taxes.

Further guidance the Organization for Economic Cooperation and Development is working on this year will address issues including “those circumstances where there’s ...