Countries Score Concession From US in Latest Global Tax Talks

Countries are getting closer to finalizing the details on a deal that would exempt US companies from major parts of the 15% global minimum tax.

People familiar with the OECD negotiations told Bloomberg Tax that countries have agreed the US won’t get first taxing rights on American companies operating in foreign jurisdictions. The development marks a key concession by the US.

OECD negotiators have also proposed more criteria to determine if a country’s domestic tax system is eligible to be considered part of a so-called “side-by-side regime,” which would exclude its companies from key minimum tax provisions. In addition, they’re ...