How US multinationals escaped the global minimum corporate tax

For those who follow the fierce debates over taxing multinational corporations (MNCs), G7 finance ministers announced a big surprise at their meeting in the Canadian Rockies last month: US-based MNCs will escape the 15 percent global minimum tax endorsed by 135 countries around the world in 2021. The tax, known as Pillar Two, was first proposed by the Organization for Economic Cooperation and Development (OECD), a 38-member intergovernmental organization, back in December 2021.Read More