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Friday, September 11, 2026

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Treasury · Friday, September 11, 2026

Treasury welcomes a revised global tax return for U.S. companies

The File desk · Sep. 11, 2026, 6:12 a.m. ET

Confirmed1 primary sources

Status

Confirmed from Treasury press release sb0628, Sept. 11, 2026. Which foreign countries have already written the safe harbor into their own laws is not inventoried in the release.
Treasury says U.S. companies get clearer paperwork for a global minimum-tax safe harbor. On Sept. 11 the department welcomed a . Secretary Scott Bessent said the form puts President Trump’s “side-by-side” international tax deal into operation. Under that deal, Treasury says U.S.-headquartered companies stay under U.S. global minimum taxes and are exempt from certain foreign Pillar Two cross-border taxes — the Income Inclusion Rule and the Undertaxed Profits Rule — if they elect the safe harbor. The revised return adds an election field, cuts some reporting for electing companies, and limits how local minimum-tax data is shared across countries. Countries still have to write the safe harbor into their own laws.
Treasury says U.S. companies get clearer paperwork for a global minimum-tax safe harbor.
On Sept. 11 the department welcomed a . GloBE is the global minimum-tax reporting form used under the Organization for Economic Co-operation and Development rules.
Secretary Scott Bessent said the form puts President Trump’s side-by-side international tax deal into operation. He said the president made clear, in a , that the Biden-era OECD global tax deal would have no force or effect in the United States.
Under the deal, Treasury says U.S.-headquartered companies stay under U.S. global minimum taxes. If they elect the safe harbor, they are exempt from certain foreign Pillar Two cross-border taxes: the Income Inclusion Rule and the Undertaxed Profits Rule.
The adds a field for that election. It also cuts some reporting for companies that elect, and it limits how local minimum-tax data is shared so it goes only to the relevant country.
Treasury says countries still have to write the safe harbor into their own laws through their usual legislative processes.
How we know

What is still unknown or disputed

  • Which foreign jurisdictions have already enacted the safe harbor into domestic law is not inventoried in the release.

Primary sources

Every claim in this story is drawn from the documents below. If a fetch failed, that is recorded on the card.

  1. Source 1

    Treasury Welcomes the Revised GloBE Information Return Implementing President Trump’s Day One Executive Order

    U.S. Department of the Treasury · September 11, 2026

    Revised GIR enables side-by-side safe harbor election; U.S.-headquartered companies remain subject to U.S. global minimum taxes, not overlapping foreign IIR/UTPR; reduced reporting; information on local minimum taxes shared only with the relevant jurisdiction.

    https://home.treasury.gov/news/press-releases/sb0628