Spanish Official Sees Challenges Resolving Minimum Tax Issues

A senior Spanish government official on Monday questioned whether international negotiations to revise the global minimum tax could be either finalized or implemented effectively by the end of the year.

Renegotiations of the system to have the US’ minimum tax law work “side-by-side” with the OECD’s “have not been easy to agree, and they won’t be easy to implement either,” said Jorge Ferreras Gutierrez, the deputy director general for tax policy in Spain’s Ministry of Finance.

Countries at the Organization for Economic Cooperation and Development are currently negotiating a carve-out for US companies from fundamental provisions of the body’s ...