G7 Exempts US Multinationals from Global Tax: A Blow to Fairness?
The G-7 nations have agreed to exempt US multinational companies from the global minimum tax, a move that aligns with the interests of President Trump’s government. This “side-by-side” solution allows US companies to be taxed only at home, on both domestic and foreign profits. The agreement was facilitated by proposed changes to the US international tax system, as part of Trump’s domestic policy bill. Ultimately, the OECD will determine the final exemption.
John Q. Hosedrinker