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

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