EU Wants to Withdraw Four Tax Bills Due to Lack of Consensus

The European Commission is intending to withdraw four controversial, longstanding tax bills that have failed to garner support from all 27 countries in the bloc.

The bills proposed to reform the bloc’s transfer pricing, impose a financial transaction tax, curb shell entities for tax purposes, reduce bias between debt and equity and limit deductible interest, according to the commission’s legislative plan issued Tuesday.

The commission said in a release that the bills, which required unanimity among the EU’s 27 member countries, should be withdrawn due to “lack of progress in the legislative process, potential burden and non-alignment with the Union’s ...