At the Ecofin meeting on Tuesday 20 February, the European finance ministers decided to close ranks over the American tax reform.
In the coming weeks, the European Commission will gather responses from European businesses to a questionnaire seeking to determine what effects this reform will have on them.
This "base erosion and anti-abuse tax" (BEAT) contains two elements of concern to the Europeans. Cross-border intra-group financial transactions will not be considered tax-deductible and...