Pillar 2 and the Corporate AMT

Abstract

This article argues that the corporate alternative minimum tax enacted as part of the Inflation Reduction Act of 2022 puts the United States in a better position than current law, and arguably even better than would a tax reform package that included a conforming global intangible low-taxed income regime but no book-based corporate minimum tax.

Keywords: Pillar 2, Pillar Two, GloBE, Corporate Alternative Minimum Tax

JEL Classification: K34