The ITPF News Blog is managed by the students at the University of Florida Levin College of Law International Tax LLM Program.
By Isabel Gottlieb
The Organization for Economic Cooperation and Development’s two-part plan would see more corporate profits attributed to the countries where companies make sales, known as “Pillar One,” and establish a global minimum corporate tax rate, known as “Pillar Two.” The U.S. in April pitched a proposal that would narrow the OECD plan and target 100 of the largest and most profitable companies. Crapo called for Treasury to report to Congress on how many U.S. companies would be among the roughly 100 firms that would see their profits reallocated under the U.S. Pillar One proposal, and how the plan would affect U.S. tax revenue.
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