More Countries Want to Address Credits Under Global Tax, US Says

More countries involved in international tax pact negotiations want to address the treatment of certain kinds of incentives under the global minimum tax, a US official said.

Isaac Wood, attorney adviser at the Treasury Department, said Tuesday that the US has observed growing recognition of a need to address the preferential treatment of refundable tax credits and the unfavorable treatment of nonrefundable tax credits under the minimum levy. He was speaking at a conference hosted by the United States Council for International Business in Washington.

The global minimum tax, also known as Pillar Two of the OECD-led global tax deal, ...