The U.S. Congressional Research Services (CRS) has published a report dated 30 June 2023 on Energy Tax Credits and the Global Minimum Tax, finding that tax credits such as the energy credits introduced by the Inflation Reduction Act may trigger additional tax. The intro to the report is as follows:
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The Internal Revenue Code (IRC) (often referred to simply as the tax code) contains a number of credits to encourage certain investments. These include energy credits, some of which were ena…