US Treasury welcomes revised global minimum tax reporting return

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On 11 September, the U.S. Treasury welcomed a revised GloBE Information Return under the OECD Pillar Two framework. Treasury said it implements part of the side-by-side arrangement agreed in January 2026 by more than 145 countries in the OECD/G20 Inclusive Framework.

Under that arrangement, US-headquartered companies can remain subject to US global minimum taxes and be exempt from the Pillar Two Income Inclusion Rule and Undertaxed Profits Rule. Treasury says the revised return enables the safe-harbor election and standardizes reporting for domestic minimum taxes; this is the US Treasury’s account of the framework.