The US and more than 100 other countries have finalized an agreement that will exempt US companies from paying part of foreign taxes, marking the fruit of months of efforts to establish exceptions to the global minimum tax for businesses. The agreement excludes multinational companies headquartered in the US from the 15% global minimum tax agreed through negotiations with the Organization for Economic Cooperation and Development.

The US and more than 100 other countries have finalized an agreement that will exempt US companies from paying part of foreign taxes, marking the fruit of months of efforts to establish exceptions to the global minimum tax for businesses. The agreement excludes multinational companies headquartered in the US from the 15% global minimum tax agreed through negotiations with the Organization for Economic Cooperation and Development.