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EU Prepares for On-Time Adoption of Corporate Minimum-Tax Rules

Nov. 30, 2021, 4:47 PM

The European Union should be able to agree by mid-2022 on a rule to implement the global minimum corporate tax rate agreement, thus meeting a deadline for the rule to take effect in 2023, the bloc’s top tax official said.

EU implementation of the Organization for Economic Cooperation and Development’s Pillar Two agreement—a 15% minimum effective tax rate for large corporations—"is now crucial and is my number one priority in the area of corporate taxation,” EU Economy Commissioner Paolo Gentiloni told the European Parliament’s tax subcommittee Tuesday.

Each EU country must implement the Pillar Two rules in its ...

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