Treasury Department Welcomes Revised GloBE Information Return, Implementing Trump's International Tax Executive Order

The U.S. Department of the Treasury announced its support for the revised GloBE Information Return (GIR), a move that implements President Trump's international tax agenda. This action delivers on a Day One Executive Order aimed at addressing the Biden Administration's proposed OECD global tax deal for American companies, ensuring U.S.-headquartered companies remain subject to U.S. global minimum taxes and reducing compliance burdens.