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

New Rules Deliver on President Trump's International Tax Agenda to Protect U.S. Companies from Compliance BurdensWASHINGTON—The U.S. Department of the Treasury today welcomed the release of the revised GloBE Information Return (GIR), an important step to implementing President Trump’s international tax agenda and delivering a historic victory on a Day One Executive Order to address the Biden Administration’s proposed Organization for Economic Co-operation and Development (OECD) global tax deal for American companies.“President Trump made clear on his first day in office that the Biden Administration’s OECD global tax deal would have no force or effect in the United States,” said Treasury Secretary Scott Bessent. “The revised GloBE Information Return delivers on a key element of President Trump’s international tax agenda by putting the side-by-side framework into operation. It ensures that U.S.-headquartered companies remain subject to U.S. global minimum taxes, not overlapping foreign regimes, while significantly reducing unnecessary reporting and compliance burdens.