03/11/23

EU: Global Minimum Tax Becoming Reality, EU Parliament Tells US

As published on news.bloombergtax.com, Friday 3 November, 2023.

EU officials met with US Congress this week
US stance on tackling tax evasion also criticized

A delegation from European Parliament told US Congress members the global minimum tax “will become a reality,” according to a Wednesday statement that also criticized US attempts to tackle tax evasion.

Members of European Parliament’s subcommittee on tax matters, led by chair Paul Tang, said in a firmly worded address that it told US counterparts the “ship has sailed” on implementing the 15% global minimum tax as the EU and other countries prepare to enact it starting in 2024.

The US continues to lag behind in applying the two key policies laid out in the Organization for Economic Cooperation and Development’s tax.

 

Read more at news.bloombergtax.com. 

Tags

EU Global Minimum Tax US