International taxes

The American Jobs Plan would take taxes on GILTI through the roof.

This week’s finance ministers’ meeting may help lead to a broader deal in July or October.

European officials are considering a proposal from the Biden administration to make companies with at least $20 billion in annual revenue pay more of their tax bill in places they operate, while being less enthused that the U.S. offer would limit levies to just 100 firms.

A GAO report finds that the regulations were burdensome for multinational companies, even though they saved through lower tax rates.

A full global deal to overhaul taxation rules may not be achieved until October, said the chief of the OECD.

The Group of Seven meeting of finance officials in London next week must strike an agreement to corral the rest of the world into changing how much tax multinationals pay and where, French minister Bruno Le Maire said Thursday.

Finance ministers are due to begin meeting this week to home in on an accord that might feature both a minimum rate and encompass digital giants.

A U.S. proposal for a global minimum corporate tax of at least 15% met with an enthusiastic reception in Europe, bringing the world closer to a deal on sweeping changes to how much multinationals pay, and to which governments.

Treasury Secretary Janet Yellen’s team has proposed a 15% global minimum corporate tax in international negotiations aimed at ending competition to lure companies through cheap rates, which then end up eroding government revenues.

Technology hardware, health care and pharmaceutical companies would be most impacted by U.S. proposals to rewrite international tax rules, according to a new analysis.