Tax Pros Want Effective Date for G7-Revised Minimum Tax Deal

Nations working to reach a deal at the OECD that would exempt US multinational companies from parts of the global minimum tax should specify the agreement’s effective date as soon as possible, a group of US accountants said.

“The first and perhaps most significant question arising under the proposed G7 agreement relates to the timing of its effect,” the American Institute of Certified Public Accountants said in a letter addressed to top officials at the Organization for Economic Cooperation and Development.

In June, the Group of Seven countries agreed to a plan that would exempt US companies from two ...