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Image header Agence Europe
Europe Daily Bulletin No. 13297
Contents Publication in full By article 19 / 34
ECONOMY - FINANCE - BUSINESS / Taxation

OECD says multinational companies continue to be taxed at low levels despite high tax rates

In its latest report published on Tuesday, 21 November, the Organisation for Economic Co-operation and Development (OECD) has revealed that multinational companies continue to report low-taxed profits, even in jurisdictions with high corporate tax rates.

Approximately 37.1% of global net profits, that being USD 2,411 billion out of a total of USD 6,503 billion, are taxed at effective tax rates below 15%. However, 56.8% of all of these profits taxed below 15% are made in high-tax...

Contents

EUROPEAN PARLIAMENT PLENARY
COMPETITIVENESS: Net-Zero Industry Act, European Parliament raises level of ambition for EU
ENVIRONMENT: practicability of future ‘packaging and waste’ regulation under debate day before European Parliament vote
CONSUMERS: European Parliament in favour of common rules to guarantee an effective and attractive right to repair products
FOOD SAFETY: European Parliament Committee on Agriculture submits amendments limiting scope of reduction in use of pesticides to a vote in plenary
CLIMATE: COP28, European Parliament calls for greater EU commitment and international funding
CLIMATE: European certification framework for carbon removals, European Parliament ready to negotiate with Council of EU
TRANSPORT: European Parliament defines its position on reducing CO2 emissions from heavy goods vehicles
DIGITAL: MEPs endorse interinstitutional agreement on high common level of cybersecurity in EU institutions, agencies, and bodies
FISHERIES: MEPs call for better implementation of Eel Regulation
FISHERIES: European Parliament approves compromise with Council on bluefin tuna catch documentation programme
EXTERNAL ACTION
MIDDLE EAST: European foreign affairs ministers to discuss revitalising two-state solution in December
PALESTINE: Commission has found no indication that Hamas diverted EU funds destined for Palestinians
DEVELOPMENT: increasing humanitarian aid and access to Gaza, a priority for European development ministers
CHINA: Jacques Delors Institute explores several expert scenarios for EU-China relations up to 2035
Russian invasion of Ukraine
UKRAINE: Volodymyr Zelensky hopes country’s accession negotiations will start in December
ECONOMY - FINANCE - BUSINESS
ECONOMY: ‘European Semester’ budgetary process kicks off for financial year 2024
ECONOMY: Commission gives green light to revised recovery plans for six EU countries
TAXATION: Lídia Pereira hopes to increase ambition of proposal to simplify taxation for European SMEs
TAXATION: OECD says multinational companies continue to be taxed at low levels despite high tax rates
ECB: recommendations of EDPB and EDPS to provide digital euro project with better guarantees of confidentiality
COMPETITION: Commission carries out further unannounced inspections in online food delivery sector
SECTORAL POLICIES
HOME AFFAIRS: European Parliament and EU Council negotiators reach agreement on ‘Prüm 2’ regulation on exchange of data between police authorities in Member States
MIGRATION: negotiators from European Parliament and Council of EU are heading for a marathon day on 7 December as they attempt to finalise all texts of 'Pact on Migration and Asylum’
DIGITAL: AI Act, EU Member States to meet on 23 November to try to break deadlock on thorny issue of foundation models
DIGITAL: ‘NIS 2’, ENISA highlights low level of investment in cybersecurity by essential service operators and digital service providers
ENERGY: eight EU countries, Norway and European Commission agree on joint action programme for development of offshore wind power in North Sea
INSTITUTIONAL
EUROPEAN PARLIAMENT: European Parliament strengthens its internal rules protecting whistleblowers
NEWS BRIEFS
STATE AID: European Commission raises ceilings on French regional aid to combat regional disparities in Martinique
DEVELOPMENT: EU Council promotes unified EU/Member State approach as global showcase for EU action
DEVELOPMENT: EU Council promotes “social, green and digital transition” as part of UN’s 2030 Agenda
ENERGY: European Commission unveils Member States’ interim gas storage targets for 2024
DIGITAL: European Parliament, European Commission, and ENISA conduct joint exercise to prepare for cybersecurity incidents that could affect European elections
DIGITAL: European Commission releases €42 million for projects aiming to increase advanced digital skills in EU
SOCIAL: coordination of social security systems, Spanish Presidency of EU Council will inform Member States on 24 November about progress of its discussions with European Parliament