European Commission Hopeful for Success of OECD Tax Deal (1)

A top European Commission official said the global tax deal brokered by the Organization for Economic Cooperation and Development, known as the two-pillar solution, is still preferable to countries imposing their own taxes.

“We are not willing to lose hope or stop pushing for Pillar One,” Benjamin Angel, the commission’s senior official for direct taxation, said during a tax subcommittee hearing at the European Parliament on Thursday, referring to the part of the deal that would allow multinationals’ surplus profits to be taxed in the jurisdiction where the revenue is generated.

More than 140 countries have signed up to ...