EU Outlines Draft Global Minimum Tax Directive (1)

The EU countries have proposed a tweak to a draft minimum-tax directive that would require the European Commission to annually review whether countries have implemented the tax alongside a broader global tax deal.

Nearly 140 countries in October 2021 backed a two-pillar plan to overhaul how multinational companies are taxed. Pillar One would reallocate a portion of the profits of the largest, most profitable companies to places where they do business. Pillar Two creates a global minimum tax rate of 15%, which the EU outlined how to implement in a draft directive released last December.

• Part of a draft political ...