The Politics of the Global Tax Deal, and What’s Next

2023-07-26

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Governments landed agreement on some of the global tax deal's biggest open issues earlier this month. But major political questions remain.The issues will play out over the coming years in the US and around the world, said Bob Stack, who was the Treasury Department's OECD tax negotiator under the Obama administration and is now a managing director at Deloitte.In a conversation with Bloomberg Tax's Isabel Gottlieb, Stack talked about the recent agreement by the negotiating governments that will...

Governments landed agreement on some of the global tax deal's biggest open issues earlier this month. But major political questions remain.

The issues will play out over the coming years in the US and around the world, said Bob Stack, who was the Treasury Department's OECD tax negotiator under the Obama administration and is now a managing director at Deloitte.

In a conversation with Bloomberg Tax's Isabel Gottlieb, Stack talked about the recent agreement by the negotiating governments that will shield US companies' US income from foreign minimum tax for an extra year, and what that means for future global tax legislation in the US Congress.

Stack also talked about prospects for the agreed, conditional freeze on new digital services taxes during remaining negotiations over implementation of Amount A, the global deal's profit reallocation plan.

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