OECD Finalizes Agreement on Global Corporate Minimum Tax

The US and more than 100 other countries finalized an agreement that would exempt American companies from some foreign taxes, the culmination of a months-long effort to create a carve-out from a corporate global minimum levy.

The deal excludes US-based multinational corporations from the 15% global minimum tax negotiated through the Organisation for Economic Co-operation & Development, or OECD. President Donald Trump last year pulled the US out of a framework to implement that levy negotiated during President Joe Biden’s administration.