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Daily Tax Report: International

EU Push for Corporate Taxes to Fund Budget a Tough Sell

June 10, 2020, 8:46 AM

Companies concerned that they might be hit with new European Union taxes as part of the bloc’s coronavirus recovery efforts can relax—at least for now.

The European Commission, the EU’s executive arm, has floated plans for new revenue sources for the EU budget, all of which, one way or another, would involve charges on businesses.

But agreement on the plans is distant, and in most cases unlikely to be achieved before the mid-2020s, if at all, in the face of skepticism on the part of EU countries, observers say.

It has been “virtually impossible to find consensus” about giving the...

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