OECD Almost Done on Mobile Asset Guidance for Global Minimum Tax

The OECD is close to completing global minimum tax guidance relating to mobile assets, an OECD official said Thursday.

The guidance on the substance-based income exclusion for companies’ “non-local” assets is “by and large finalized,” said John Peterson, head of division for cross border and international taxation at the OECD, speaking at the Pacific Rim Tax Conference in San Francisco. Mobile assets include aircraft that move from one jurisdiction to another.

• The global minimum tax, under Pillar Two of the OECD’s 2021 global tax agreement, requires companies to pay at least 15% in taxes no matter where in the world ...