United States of America: Presidential Memorandum declaring the OECD Global Tax Deal ineffective was adopted by the President

Description

Presidential Memorandum declaring the OECD Global Tax Deal ineffective was adopted by the President

On 20 January 2025, the President of the United States adopted a Memorandum on the Organisation for Economic Co-operation and Development's (OECD) Global Tax Deal. The Memorandum declares that prior commitments made by the United States regarding the OECD Global Tax Deal, which would allow extraterritorial jurisdiction over US income and would limit the sovereignty of national tax policy, have no legal effect unless ratified by Congress. It directs the Secretary of the Treasury and the Permanent Representative to the OECD to notify the organisation of this position. Additionally, the Secretary of the Treasury, in consultation with the United States Trade Representative, is tasked with investigating foreign tax measures that may disproportionately affect American companies and presenting protective action options to the President within 60 days.

Original source

Scope

Policy Area
Taxation
Policy Instrument
Direct taxes including Digital Service Taxes
Regulated Economic Activity
cross-cutting
Implementation Level
national
Government Branch
executive
Government Body
central government

Complete timeline of this policy change

Hide details
2025-01-20
adopted

On 20 January 2025, the President of the United States adopted a Memorandum on the Organisation for…

We use cookies and other technologies to perform analytics on our website. By opting in, you consent to the use by us and our third-party partners of cookies and data gathered from your use of our platform. See our Privacy Policy to learn more about the use of data and your rights.