Countries Mull Extending Global Tax Carve-Out, EU Official Says

There is still debate over whether potential changes to the global minimum tax agreement would apply for non-US-headquartered companies, according to a senior EU tax official.

“It remains to be decided” by countries whether or not to develop universal eligibility criteria for the so-called side-by-side system, or apply the conditions to US companies only, Ioanna Mitroyanni, deputy head of unit in company tax initiatives at the European Commission, said Wednesday at the International Fiscal Association congress in Lisbon.

Countries are negotiating a carve-out for US companies from essential provisions of the global minimum tax, which is already in force ...