G7 countries endorse 'side-by-side' system replacing...

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2025-06-29 06:09:14 -

G7 countries endorse '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...

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