WASHINGTON (AP) — The Organization for Economic Cooperation and Development has finalized a deal exempting U.S. multinational corporations from paying more corporate taxes overseas. Announced Monday, the agreement involves nearly 150 countries and aims to stop large companies from shifting profits to low-tax countries. The amended version excludes U.S.-based multinationals from the 15% global minimum tax after negotiations between the Trump administration and other members of the Group of Seven wealthy nations. The most recent version of the deal waters down a landmark 2021 agreement that set a minimum global corporate tax of 15%. Critics say the deal undermines efforts to prevent profit shifting to tax havens.
US-based multinational companies will be exempt from global tax deal
