US Companies Push for More Relief in US-G7 Minimum Tax Deal

Large American companies are asking for any new deal struck at the OECD exempting them from parts of the global minimum tax to be made retroactive.

They’re also asking to be relieved of their duty to file a voluminous global information report to comply with the minimum levy.

“From the business community’s perspective, obviously they would like this to be as retroactive as possible, assuming we get a side-by-side agreement,” said Pat Brown, co-leader of PwC’s Washington National Tax practice.

In a June arrangement, the US and the other Group of Seven rich nations agreed to work on a “side-by-side” ...