The Organization for Economic Co-operation and Development (OECD) has released technical guidance on the implementation of its 15% global minimum tax on multinational enterprises. It includes clarification of the application of a U.S. tax on intangible income. The guidance comes in the form of a 100-plus-page document and covers several aspects of the global minimum tax as part of the OECD’s second “pillar” of its two-pillar international tax system. The guidance was unanimously agreed upon by all 142 countries and jurisdictions that have signed onto the two-pillar agreement. Here’s a press release with more information: https://bit.ly/3HxJbXZ
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