EU Warns Countries On Delay in Implementing Global Tax (1)

The European Commission is threatening to refer six countries to the top European court unless they provide details of their implementation of the global minimum tax within two months.

The countries—Poland, Portugal, Spain, Cyprus, Latvia and Lithuania—have still not set the 15% minimum effective tax on the profits of large companies, though it’s supposed to be applied from this year, the Commission said.

The EU adopted at the end of 2022 a directive on the minimum tax, which applies to companies with global revenues of 750 million euros ($814 million) or more. Countries had until the end of 2023 to ...