A New Global Tax Is About to Raise Billions. The U.S. Is Missing Out. - WSJ

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/economy/global/a-new-global-tax-is-about-to-raise-billions-the-u-s-is-missing-out-aefad21f By , and Updated Feb. 1, 2024 12:06 am ET Listen (5 min) The 15% global minimum tax is here, and it is raising corporate tax payments—just not in the U.S. Johnson & Johnson, Baxter International and Zimmer Biomet are all warning investors that the 2021 international tax deal will make them pay higher taxes this year as Switzerland, South Korea, Japan and European Union countries implement the accord. U.S. companies that enjoyed single-digit tax rates in some foreign countries now must pay at least 15% in each. But even though Treasury officials were crucial in forging the international accord

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/economy/global/a-new-global-tax-is-about-to-raise-billions-the-u-s-is-missing-out-aefad21f By , and Updated Feb. 1, 2024 12:06 am ET Listen (5 min) The 15% global minimum tax is here, and it is raising corporate tax payments—just not in the U.S. Johnson & Johnson, Baxter International and Z