Companies Need Time to Absorb New Tax Rules, EU Lawmakers Say

The European Union should hold off pushing ahead with a plan to create a common tax base for large companies in the bloc until businesses have adjusted to the global minimum tax rules, European Parliament lawmakers said Tuesday.

The European Commission, the EU’s executive, should be “sequencing the implementation of these regulatory packages to provide European business with the necessary breathing space,” said Isabel Benjumea Benjumea, a Spanish center-right lawmaker, speaking to the European Parliament’s tax subcommittee.

A draft European Parliament resolution drawn up by Benjumea said the common tax base plan—known as Business in Europe: Framework for Income ...