The U.S. Department of the Treasury announced that it has reached an agreement with more than 145 OECD/G20 member countries to exempt U.S.-headquartered companies from the OECD Pillar Two global tax plan. The agreement, finalized in coordination with Congress, means U.S. multinationals will remain subject only to U.S. global minimum taxes while being excluded from the Pillar Two framework. Treasury emphasized that the deal preserves U.S. tax sovereignty over worldwide operations of U.S. firms and protects the value of the U.S. research and development credit and other Congress‑approved incentives for investment and job creation. The Treasury will continue to engage foreign partners to implement the agreement, promote international tax stability, and pursue dialogue on digital‑economy taxation.
https://home.treasury.gov/news/press-releases/sb0350
Made by AI. If you spot anything of concern write us at contact@cybach.com. We’ll promptly correct irregularities.