U.S. Companies Score Partial Reprieve From Global Minimum Tax Deal
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U.S. Companies Score Partial Reprieve From Global Minimum Tax Deal
Under the updated agreement negotiated by the Treasury Department, U.S.-based companies will have an extra year (until 2026) before foreign countries can start imposing new taxes on any U.S. companies deemed to pay too little tax in the United States. In addition, the clean-energy tax credits at the core of last year’s Inflation Reduction Act will be counted in a more favorable way than some companies had feared, offering certainty as a tax-credit trading market gets under way.
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