The OECD’s new global tax framework that introduced reporting simplifications and significant carveouts for US groups provides “vital clarity and stability for multinationals globally,” according to the forum’s official business advisory body.
The new agreement, which would see the US’ foreign tax system operate “side-by-side” with the OECD’s global minimum tax, also “preserves the integrity of international tax cooperation, reduces the risk of complex double taxation, and averts potential retaliatory tax measures,” Business at OECD said in a press release published Tuesday.
“The approval of this package marks a significant turning point, translating technical alignment into actual tax policy certainty for businesses navigating ...