New Minimum Tax Rules Require ‘Offsetting,’ EU Businesses Say

European businesses will need to have other taxes scrapped now that they have signed up to the new global minimum tax agreement, according to BusinessEurope, a trade association.

“We now have all the obligations” of the new minimum tax agreement, said Markus Beyrer, director-general of the group, “and all of the obligations that come from the EU anti-avoidance framework.”

“We will need to have some offsetting here,” he said, speaking Monday at the EU Tax Symposium in Brussels.

The EU is currently working on a bill, due in June, meant to simplify the bloc’s existing tax laws, including ...