EU Minimum Tax Compliance Burden Less Than US, EU Official Says

A senior European Commission official estimated companies in scope of its minimum corporate tax would pay €255,000 ($294,780) on average in compliance costs per year.

Benjamin Angel, the director for direct tax at the commission’s tax and customs department, wrote on LinkedIn the average cost would represent “in average 0.004% of their turnover,” resulting in a lower impact than their US counterparts.

Tax Foundation estimated in a study published Oct. 22 that all in-scope companies in the EU would have to pay €517 million ($597 million) annually to comply with the global minimum tax, which seeks ...