Countries will grapple with several issues as they work to implement the newly agreed 15% global minimum tax, such as harmonizing how the measure is applied, and coordinating global rules with the U.S.'s minimum tax regime, a U.K. document said.
The U.K.—which is asking for public feedback in a consultation document as it considers how it will apply the rules—also pointed to an open issue that will be key to both companies and governments: Installing simplifications to reduce the large number of complex calculations taxpayers will have to make to comply.
“There needs to be a relentless focus on simplification,” ...