Businesses at OECD, represented by the trade association known as BIAC, have asked for simplified rules for any jurisdiction that has a 15% minimum tax on a permanent basis as current simplified rules are expected to expire at the end of next year. Christian Kaeser, the co-chair of BIAC’s tax committee, said that policymakers should do more for businesses. “The permanent effective tax rate safe harbor is not every single point,” he said, referring to the simplified rules. “We want more.” He cited the “ridiculous” differentiation current rules make between refundable and non-refundable tax credits. How tax credits are treated are also a part of negotiations on the minimum tax.
Read the article from Bloomberg here: https://news.bloombergtax.com/daily-tax-report/uk-official-optimistic-on-side-by-side-global-tax-agreement.