Group Seeks Permanent Global Minimum Tax Safe Harbors (1)

The OECD should focus on reducing companies’ compliance burden for the global minimum tax, especially for multinational businesses whose entities are taxed well above the 15% minimum rate, a business group told the organization.

In a comment letter to the Organization for Economic Cooperation and Development, the National Foreign Trade Council called for two temporary safe harbors in the global minimum tax rules—for country-by-country reporting and protection from the undertaxed profits rule—to be made permanent.

The UTPR transition period will apply to fiscal years beginning on or before Dec. 31, 2025, and ending before Dec. 31, 2026.

The CbCR safe ...