U.S. Floats Tax Compromise Targeting 100 International Firms

The Biden administration has floated a compromise proposal to counterparts around the world that would apply a new international tax code to, at most, 100 global corporate giants.

The U.S. plan would consider a company’s profitability in determining whether more of its income should be taxed by the countries where it does business -- something the Biden administration argues will resolve long-standing disputes about which companies should be targeted by new global tax rules -- according to a document obtained by Bloomberg News.

New tax rules would apply to no-more than 100 multinational enterprises that meet both revenue and profit-margin ...