ECONOMY - FINANCE / Taxation

European Commission proposes swift transposition of OECD agreement on minimum taxation

Brussels, 22/12/2021 (Agence Europe)

The European Commission unveiled, on Wednesday 22 December, its proposal for a directive to introduce into European Union law the ‘minimum taxation’ component (pillar II) of the international corporate tax reform agreed at the OECD in early October (see EUROPE B12808A2).

Under the terms of the agreement, which has been approved by 137 countries to date, multinationals with a consolidated annual turnover in excess of €750 million and which have their headquarters or a subsidiary in...