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Corporate Advisers Await Global Pact Details to Work Out Tax Hit

Nov. 23, 2021, 9:45 AM

Tax advisers are waiting on the details of concessions multinational companies won in a global tax deal struck last month to understand the full impact on tax bills.

A handful of exemptions and carve-outs could soften the blow of the new tax regime. To effectively calculate how the tax bills for companies will change, tax advisers need the technical details found in model legislation, treaties, and other tools officials are creating to help countries implement the deal.

“We are at a key tipping point of understanding how the agreement will be translated into practice, and how local countries will respond ...