Multinationals Confront Audit Risks Ahead of Global Tax Filings

Multinationals in the world’s largest economies are facing several unanswered questions and possible audit scrutiny as they prepare to file their first global minimum tax forms ahead of a fast-approaching June deadline.

Businesses headquartered in jurisdictions that haven’t adopted the OECD’s standardized minimum tax reporting form—most notably the US, India, and China—are concerned data shared with foreign tax authorities could be used in ongoing litigation against them, such as transfer pricing disputes, according to practitioners.

And that adds to businesses’ concerns over where to file and the level of tax information that needs to be shared, they said.

“If you ...