The Global Minimum Tax Isn’t Dead After GOP Bill: BGOV Tax

Global Minimum Tax and G7

US multinationals should think twice before pulling back compliance with the global minimum tax after the Group of Seven reached an “understanding” that parts of the OECD-brokered framework won’t apply.

The statement by the G7 came as an effective exchange for Republicans to yank the so-called revenge tax from their $3.4 trillion tax-and-spending bill, ceding to critics from Europe as well as US and global investors who opposed it. The levy would have boosted taxes on foreign companies and individuals in countries with taxes the US deemed unfair.

But to allow the “side by side” ...