Corporate America Prods on Global Tax Talks
Corporate America is raising concerns with members of Congress and the Trump administration that global minimum tax framework talks are moving too slow.
A June pact between the US and its Group of Seven allies paved the way for work on a “side-by-side” system allowing the American system that taxes foreign-earned income to operate separately from the 15% global minimum tax. As part of the deal, Congress agreed to back off on enacting the so-called Section 899 revenge tax, pulling it from the tax-and-spending law that passed in July. But it’s not gone ...