Exempting US From 15% Global Minimum Tax Muddles European M&A
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Exempting US From 15% Global Minimum Tax Muddles European M&A
An effort by OECD countries to revise the 15% global minimum tax to appease US President Donald Trump is complicating some mergers and acquisitions. Tax professionals caution that the revision, which would exempt US companies from major parts of the tax in an effort to mitigate Trump’s tariff threats, would also give the US a big advantage in M&A deals. In a June arrangement, the US and the other Group of Seven rich nations agreed to work on a “side-by-side” system so that the US’s rules on taxing foreign-earned income wouldn’t conflict with the global minimum tax rules. Nearly 30 nations raised concerns about the prospective deal.
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