Daily Tax Report: International

Rio Tinto, AstraZeneca Pitch Fixes to Global Minimum Tax Plan

Jan. 15, 2021, 9:07 PM

Rio Tinto PLC, AstraZeneca PLC, and Tata Consultancy Services Ltd urged OECD negotiators to revamp a plan to set a global minimum tax rate.

Companies are worried that calculations to determine what they’ll owe are too complicated, and without clearer rules they could face double taxes in multiple jurisdictions.

The OECD is leading an effort to rewrite how the digital economy is taxed and address worries that some multinationals, including big tech companies, aren’t being taxed properly. The plan includes proposals to reallocate profits and set a global minimum tax—known respectively as Pillar One and Pillar Two.

Under Pillar Two,...

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