Bloomberg Tax
Aug. 17, 2023, 3:39 PM

BGOV OnPoint: Lawmakers Spar Over Global Tax Deal

Lauren Turenchalk
Lauren Turenchalk

A group of House lawmakers is headed to Paris over recess to discuss the Organization for Economic Cooperation and Development’s global tax deal, which has met Republican opposition in Congress.

Download the BGOV OnPoint: Partisan Divide Over the Global Tax Deal

Nearly 140 countries agreed to the two-part deal in October 2021 to tackle profit-shifting among the world’s largest multinational corporations, including through a new global minimum tax.

The details of “Pillar One,” which is meant to reallocate large multinational companies’ residual profits, are still under negotiation. A critical mass of countries would need to ratify the multilateral treaty portion ...

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