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EU to Start Process of Implementing Global Tax Pact in December

Oct. 12, 2021, 4:59 PM

The European Commission hopes to propose a law in December that would write the international agreement on a minimum tax rate into the EU’s legal code, a senior official said Tuesday.

The OECD announced Oct. 8 that 136 of 140 nations have sealed a deal, after years of negotiations, on a global tax overhaul that would redistribute a portion of the biggest multinationals’ profits—known as Pillar One—and establish a 15% minimum corporate tax rate—Pillar Two.

The commission would also propose a rule requiring companies covered by the Pillar Two agreement to publish the effective tax rates they pay per ...

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