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EU Parliament approves global minimum tax rate

Proposal on worldwide minimum tax rate of 15% for companies adopted

The Commission’s proposal to implement international agreements on a global minimum tax rate of 15% for companies was approved by the EU Parliament on 19 May 2022.

However, MEPs have made amendments to the proposal. A clause is to be introduced to review the threshold for annual earnings above which a multinational company is subject to the tax rate. As well as a requirement for an assessment of the impact of the legislation on developing countries. Furthermore, certain exemptions are also to be restricted and the possibilities of abuse of the regulations limited.

Parliament’s opinion will now be forwarded to the Council, which must unanimously adopt a final text.

 

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