UK Official ‘Optimistic’ on Side-by-Side Tax Agreement (1)

A UK Treasury official and delegate to the OECD said Wednesday he’s optimistic that countries will reach an agreement to re-write major parts of the global minimum tax in the coming months.

Countries involved in the negotiations understand the political pressure to reach a deal, “as soon as possible,” said Tim Power, director for business and international tax at His Majesty’s Treasury. Power also serves at the co-chair of the OECD’s Committee for Fiscal Affairs, a group focused on developing tax policy and standards.

He was speaking Wednesday at the International Fiscal Association’s Congress in Lisbon.

“They are open to ...