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EU Aims for June 2022 Deal on 15% Global Minimum Tax Law (1)

Dec. 22, 2021, 11:05 AMUpdated: Dec. 22, 2021, 5:21 PM

The European Commission wants EU members to agree by the end of June on a plan to adopt a newly agreed 15% global minimum tax rate.

The directive—released Wednesday—is the first time European Union officials have offered details on how they want member countries to change their domestic laws to implement a deal to overhaul global tax rules. The deal—brokered by the Organization for Economic Cooperation and Development—sets a 2023 deadline for the nearly 140 countries involved.

If all 27 member countries approve the directive and change their national laws, multinational groups headquartered in the EU would have to pay ...