OECD Expects Requests for US-Like Exemption From Global Tax

Countries besides the US want in on an exemption from the global minimum tax, a top OECD official said Tuesday.

The Organization for Economic Cooperation and Development is expecting a “handful” of countries to apply for a domestic carve-out that would shield their companies from the tax on their soil, Manal Corwin said in a phone interview with Bloomberg Tax.

The domestic carve-out, called the ultimate parent entity safe harbor, is one of two safe harbors that effectuate a “side-by-side” system negotiated at the OECD at the behest of the Trump administration to exempt American companies from two key global ...