GOP 2025 Tax Law Changes to US Minimum Tax Hamstrung by Tax Code

Multinationals are seeking rule changes from Treasury allowing them to take more credits against taxes they pay abroad on their income.

Although Republicans recently changed parts of the US’s minimum tax on foreign-earned income to be more advantageous to companies, practitioners say the benefit they received is hamstrung by the way the new changes interact with other parts of the US tax code.

Without intervention from the Treasury Department, companies will continue to pay a similar amount of tax on their foreign-earned income as they did before Republicans changed the law.

The issue “has the potential to create more double ...