Bloomberg Tax
Sept. 26, 2022, 6:37 PM

EU Expects Global Minimum Tax Agreement This Year, Official Says

Stephen Gardner
Stephen Gardner
Freelance Correspondent

The European Union is on track for an agreement to implement the global minimum tax so it can be finalized by end-2023 and take effect from the start of 2024, the bloc’s top tax official said Monday.

The European Commission—the EU’s executive arm—is working with EU countries to overcome the veto from Hungary that’s obstructing agreement on the 15% minimum tax, Paolo Gentiloni, the EU economy commissioner, told the European Parliament’s Economic and Monetary Affairs Committee.

The commission will consider “all legal and political means” to overcome the blockage, he said.

“We are well in time to overcome this unacceptable—and ...