G7 Exempts US From Applying Minimum Tax Deal

G7 exempts US from applying minimum tax deal

The “honorable compromise” has led the Trump administration to drop its threat to impose a “revenge tax” in a major spending bill.

Global minimum tax: G7 endorses 'side-by-side' system replacing top-up levies; US, UK firms exempted

G7 nations have reached a groundbreaking agreement, exempting US and British multinational corporations from key provisions of the global minimum tax through a new "side-by-side" system. This framework acknowledges existing US tax laws, allowing American firms to be taxed domestically. The move aims to provide stability and certainty in the international tax system, addressing concerns raised by businesses.

G7 Agrees To Exempt US Multinationals From Global Minimum Tax

The Group of Seven nations said Saturday they have agreed to exempt US multinational companies from a global minimum tax imposed by other countries -- a win for President Donald Trump's government, which pushed hard for the compromise.