A new agreement will delay until 2026 some of the potential increases that U.S. companies will have to pay to foreign counties under a global minimum tax deal.
In accordance with the updated agreement negotiated by the Treasury Department, U.S. companies will have until 2026 — an extra year — before foreign countries can start imposing the new taxes on companies they deem to pay too little tax in the U.S.
Also, clean-energy tax credits at the core of last year’s Inflation Reduction Act will now be counted in a more favorable way than some companies had feared.
This will offer certainty as a tax-credit trading market gets under way.
