• EU officials target a breakthrough for the 15% global tax deal this month

Market news

6 October 2021

EU officials target a breakthrough for the 15% global tax deal this month

CNBC reports that the EU’s top trade chief said that a global deal on corporate tax could be completed before the end of this month.

Some nations, notably Hungary and Ireland, where corporate tax is below 15%, had raised doubts about the agreement. However, discussions led by the Organization for Economic Cooperation and Development seem to be baring fruit.

“We hope that the OECD agreement can be finalized during October. We are also working with EU member states to make sure all are on board concerning the international tax agreement,” Valdis Dombrovskis, the European Commission Vice President for Trade, said.

“And we are ready from our side also then to put forward legislative proposals to ensure the uniform implementation of the this agreement across the EU.”

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