US Companies Move Behind American Shield to Delay Global Tax

US multinational companies are engaging in what essentially amounts to a political game of chicken, dissolving their overseas holding companies and reshoring ownership of their subsidiaries to delay paying the new 15% global minimum tax—perhaps indefinitely.

It’s unclear how many US companies are part of this trend, but practitioners tell Bloomberg Tax they have helped US companies move ownership of their foreign subsidiaries to the US, which has yet to sign up to the global minimum tax. The move triggers a one-year delay in compliance.

None of the practitioners would name the clients they are doing this work for, but ...