Nearly 150 countries have agreed on a landmark plan to stop large global companies shifting profits to low-tax jurisdictions, but the US will be exempt from the deal, angering tax transparency groups. The plan, finalised by the Organisation for Economic Cooperation and Development, excludes large US-based multinational corporations from the 15% global minimum tax after negotiations between the Trump administration and other members of the G7. The OECD secretary general, Mathias Cormann, described the agreement as a “landmark decision in international tax cooperation” that “enhances tax certainty, reduces complexity, and protects tax bases”. Scott Bessent, the US treasury secretary, called
UK Government told it could have gone further on North Sea windfall tax
...
Read moreDetails