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flag 149 countries, including the U.S., agreed to exempt American firms from a 15% global minimum tax on overseas profits.

flag Nearly 150 countries, including the U.S., have finalized a revised global tax agreement under the OECD that exempts U.S. multinational corporations from a 15% minimum corporate tax on overseas profits. flag The change, negotiated by the Trump administration and G7 nations, allows American firms to continue shifting profits to low-tax jurisdictions like Bermuda and the Cayman Islands without additional taxes. flag The OECD called the deal a landmark achievement, while U.S. officials hailed it as a victory for sovereignty and business competitiveness. flag Critics, including tax transparency advocates, argue the exemption undermines global efforts to stop profit shifting and reverses years of progress on fair corporate taxation.

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