The Organization for Economic Co-Operation and Development (OECD) Global Tax Deal (Global Tax Deal)

What Presidential Memorandum 2025-02043 says

Federal Register, Volume 90 Issue 19 (Thursday, January 30, 2025) [Federal Register Volume 90, Number 19 (Thursday, January 30, 2025)] [Presidential Documents] [Pages 8483-8484] From the Federal Register Online via the Government Publishing Office [www.gpo.gov] [FR Doc No: 2025-02043] Presidential Documents Federal Register / Vol. 90, No. 19 / Thursday, January 30, 2025 / Presidential Documents [[Page 8483]] Memorandum of January 20, 2025 The Organization for Economic Co-Operation and Development (OECD) Global Tax Deal (Global Tax Deal) Memorandum for the Secretary of the Treasury[,] the United States Trade Representative[, and] the Permanent Representative of the United States to the Organization for Economic Co-Operation and Development The OECD Global Tax Deal supported under the prior administration not only allows extraterritorial jurisdiction over American income but also limits our Nation's ability to enact tax policies that serve the interests of American businesses and workers. Because of the Global Tax Deal and other discriminatory foreign tax practices, American companies may face retaliatory international tax regimes if the United States does not comply with foreign tax policy objectives. This memorandum recaptures our Nation's sovereignty and economic competitiveness by clarifying that the Global Tax Deal has no force or effect in the United States. Section 1....

Opening of the official text; read it in full in the Federal Register.