Tony Billings and Santanu Mitra accepted for publication in Tax Notes


Mike Ilitch School of Business Professors of Accounting Tony Billings and Santanu Mitra have had an article accepted for publication as a special report in both Tax Notes State and Tax Notes International. Tax Notes is a portfolio of publications with a large readership of practitioners, academics and policymakers alike.

The paper, “A Comparative Study of the Impending OECD’s Global Minimum Tax Rules and the U.S. GILTI Tax Regime,” was co-authored by Kyungjin Kim, a former WSU student.


The objective of this article is to provide an update on the global minimum tax (hereafter, GMT) agreement between the United States and the G20 countries and explain how the GMT would interact with the GILTI regime. In October 2021, the Organization for Economic Cooperation and Development (OECD) announced that 136 countries including all G20 countries out of a total 140 countries agreed to a global minimum corporate tax rate of 15 percent. Indeed, several low-tax jurisdictions of choice for businesses seeking tax havens joined the G20 in inking the agreement to proceed with the deal. The agreement requires multinationals to pay taxes on income earned without regard to the host jurisdiction, which essentially prevents them from shifting profits among countries to minimize income tax liability. The article argues that for the most part, the G20 agreement reflects the core spirit of the final GILTI regime.

View all news stories