In this episode Douglas McHoney (PwC USA) and Arne Schnitger talk about the US book minimum tax (BMT) respectively the corporate alternative minimum tax (AMT), introduced by the "Inflation Reduction Act". This new tax is applicable for tax years beginning after December 31, 2022. Doug starts with an overview of the development of the BMT and explains who does it apply to, how it is calculated and how it interacts with the regular income tax. Arne and Doug discuss the similarities and differences of the BMT in comparison to the Pillar Two rules as well as to the GILTI regime and illustrate that the BMT could trigger negative tax consequences under the Pillar Two rules.