The Department of the Treasury announced that all 142 countries and jurisdictions, including the U.S., participating in the Organization for Economic Cooperation and Development (OECD) and Group of Twenty’s (G20) effort to establish a new 15 percent global minimum tax (GMT) have come to a consensus and released guidance on the GMT’s implementation worldwide.
Treasury describes the guidance as providing certainty on several key issues, including “protection of the LIHTC, as well as green tax credits, including those that were included in the Inflation Reduction Act.”
