German Industry Calls for Suspension of EU Minimum Tax Rules

German industry trade association BDI called on the EU to suspend its enforcement of a 15% minimum corporate tax, arguing it will hurt European businesses.

In a document published Friday, BDI said the US’ rejection of the global tax agreement negotiated at the Organization for Economic Cooperation and Development, which includes a minimum tax called Pillar Two, has put European companies “at a competitive disadvantage.”

• Suspending the law would “restore equality in global tax competition and prevent the fatal consequences of threatened punitive taxes to the detriment of European companies,” the group argued.
• The Trump administration said Jan. 20 the ...