EU unveils directive on global corporate tax - Breaking The News

EU unveils directive on global corporate tax

22 December

1 min read

EPA-EFE/STEPHANIE LECOCQ

European Commission revealed on Wednesday a directive that aims to ensure a 15% minimum corporate tax rate across the EU.

Companies with an annual turnover that exceeds €750 million which also "have their parent or a subsidiary" based within the bloc are meant to be covered by the new regulations. "The directive will provide legal certainty" and ensure that the new tax "rules are enacted in a manner that is compatible with EU law," European Commissioner for Economy Paolo Gentiloni (pictured) explained in a speech.

Brussels will aim to reach a deal on the tax regulations in the first half of 2022 "in order to meet the globally agreed deadline of 2023 for the entry into force of the rules," he added.

tax reform gentiloni global tax

Trump calls on Congress to make tax cuts permanent

26 February

United States President Donald Trump took to Truth Social on Wednesday to share his hopes that Congress will concur to pass long-term tax reform per the proposed budget framework."I hope the House and Senate are able to agree on making the Tax Cuts PERMANENT!," the head of state shared on his profile. His comment comes after House Republicans secured a major victory in the last 24 hours by adopting a budget framework through a 217-215 vote. One of...

Spanish Congress approves 7% tax hike on banks

21 November

The Spanish lower house of parliament approved a new tax targeting banks on Thursday, focusing on their interest margins and commissions. Unlike the extraordinary tax in place during 2023 and 2024, which raised €1.7 billion this year, the newly introduced tax will remain effective for three years, increasing the fiscal load on major financial institutions operating in Spain.The new rate of 7% will apply to CaixaBank, Santander, and BBVA, while Sabadell, which...

Scholz confirms February 23 as snap election date

13 November

German Chancellor Olaf Scholz confirmed on Wednesday that the country's snap election will be held on February 23, 2025.Speaking before the Bundestag, Scholz also confirmed the parliament's vote of confidence in his government following the collapse of the so-called traffic light coalition will be held on December 16. The chancellor insisted that dismissing Finance Minister Christian Lindner was "unavoidable."Furthermore, Scholz urged the parliament to...

EU: November forecast won't differ much from previous

7 October

European Union Commissioner for Economy Paolo Gentiloni remarked on Monday that the upcoming November economic forecast is expected to be "more or less the same" as the previous one."We won't be far from the 0.8% euro area growth forecast," he shared ahead of the EU finance ministers meeting in Luxemburg.Gentiloni went on to say that geopolitical uncertainty, more specifically the Middle East conflict, could leave a mark on the Eurozone economy....

This website uses cookies to ensure you get the best experience. Our Terms of Use and Data Protection Policy explain the data we collect, why we collect them, and how we may share them.