J&J Global Tax Exec Says Pillar Two Rule Concerning for US R&D Credit

A rule in the OCED-led Pillar Two agreement that would allow other countries to tax a corporation’s low-taxed income is “particularly concerning,” a Johnson & Johnson global tax executive said Friday.

Alyson Lawrence, J&J vice president of global taxation, said at a Tax Council Policy Institute symposium in Washington that the company needs to understand what different countries are doing to retain investment.

“I think the UTPR is particularly concerning with respect to the treatment of the US R&D credit, of course,” Lawrence said of the undertaxed profits rule. “You know, our company is deeply engaged in these ...