2026

Even before the rise of artificial intelligence, the case for raising the corporate tax rate was compelling. Now, it’s overwhelming.

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President Donald Trump threatened new tariffs on products from the European Union in retaliation to the bloc’s $1 billion (€890 million) fine of Alphabet Inc.’s Google.

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The July 21 U.N. framework convention draft softens earlier commitments on harmful tax practices, high-net-worth individual taxation, and fair allocation of taxing rights, replacing binding language to "develop and implement measures" with softer cooperation and information-sharing commitments, apparently in response to OECD countries' demands. The draft, to be discussed alongside two protocols at the August 3-13 New York negotiating session, preserves signatories' ability to renegotiate existing tax treaties where necessary while clarifying the convention won't automatically override prior bilateral or multilateral agreements.

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Squire Patton Boggs' Jefferson VanderWolk, in a July 20 letter to the editor, argues declining OECD pillar 2 revenue estimates—from $150 billion in 2021 to just $91-155 billion now—raise doubts about whether the regime justifies its steep compliance and administrative costs, especially since many in-scope companies' compliance spending exceeds their actual top-up tax liability. VanderWolk contends the side-by-side package has let U.S. multinationals largely escape pillar 2, undercutting the original stated goal of ensuring digital giants "pay their fair share," and suggests countries might be better served pursuing pro-growth, lower-tax policies instead.

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EU countries will urge negotiators at the United Nations to use consensus-based decision-making for developing its tax treaty and ensure it won’t replace existing international tax agreements, especially those brokered at the OECD.

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The OECD's July 21 Corporate Tax Statistics report found average statutory corporate tax rates across inclusive framework jurisdictions held steady at 21.2 percent, matching 2025 and signaling an end to the decades-long global race-to-the-bottom trend, with 113 jurisdictions now at lower headline rates than in 2000. The report flagged a slight uptick in indicators suggestive of profit-shifting mismatches—more pronounced in investment hubs—while corporate tax revenues as a share of GDP dipped slightly from 2022 but remained above pre-pandemic and pre-2008 crisis levels.

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Poland's DST bill will soon enter formal legislative process after weeks of consultations, Deputy Digital Affairs Minister Dariusz Standerski said July 19, with the government projecting roughly PLN 1.7 billion ($448 million) in first-year revenue, rising to PLN 3 billion in later years. Despite U.S. retaliation threats and President Nawrocki's anti-tax campaign pledge, Standerski framed the levy as targeting undertaxed digital business models broadly—not just U.S. firms—while offering relief mechanisms letting companies offset DST liability against corporate income tax already paid, plus investment and R&D credits.

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Shaheen questions the legal basis for elements of the 2022 foreign tax credit regulations, supporting the reconsideration of the regs by Treasury and the IRS.

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A major cryptocurrency trade group is asking an Illinois court to block the nation’s first state tax on digital asset transactions, describing it as discriminatory, unconstitutional, and prohibited under federal law.

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