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Dell CFO Fears Extra Tax If U.S. Acts On Minimum Tax Before OECD

Jan. 28, 2022, 8:18 PM

If the U.S. toughens its minimum tax before other countries adopt a global minimum tax, that could set up a double-taxation regime, Dell Technologies Inc. CFO Thomas Sweet said.

The global tax pact, agreed to by 137 countries, would impose a 15% global minimum tax. The U.S. already has a minimum tax on foreign income of its own, known as GILTI, for global intangible low-taxed income. The current rate is 10.5%, but the Biden administration wants to raise that to 15% as part of its massive tax-and-spend package. The global minimum tax would take effect in 2023, while the ...

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