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Double Tax Worries Hang Over OECD Digital Plan, Official Warns

Nov. 24, 2020, 8:31 PM

Negotiators are struggling with how to prevent multinationals from being hit with a double tax under an OECD-led effort to set a global minimum rate, a U.K. official said.

The interaction of the plan’s minimum rate and the U.S.'s global intangible low-taxed income rules have been a major concern for U.S. companies worried about the extra tax hit and compliance issues they could face if subject to both sets of rules.

The OECD agreement could include accepting the rules the U.S. already has as a substitute to the global plan, so the U.S. doesn’t have to pass new legislation. In ...