US Companies Raise Alarms as Global Tax Deal Rewrite Drags On

US multinational companies are telling Congress members and the Trump administration that negotiations at the OECD to rewrite major parts of the global minimum tax framework are going too slow.

As a group of about 140 countries crawl through negotiations, US corporations are worried they’ll have to invest millions to comply with the tax, known as Pillar Two, if a deal exempting them from parts of the framework isn’t reached by year’s end.

The exemption was borne out of a deal struck by the US and its Group of Seven allies in June to work on a system separating US ...