US companies must continue with plans to pay the global minimum tax in other countries despite the Group of Seven’s dramatic statement that parts of the levy won’t apply to them, tax professionals warn.
US multinationals have been celebrating the G7 nations’ announcement of an “understanding” regarding a US exemption from the framework, and asking their tax advisers if they need to keep the people and systems to comply with the minimum tax, for which dozens of countries have established laws and regulations.
“We’ve had a number of clients that have tried to back away and been like, ‘Hey, you ...
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