Council of the EU Adopts Global Minimum Tax Data-Sharing Bill

The Council of the European Union approved a bill Monday that would streamline reporting requirements for large companies under the global minimum tax.

The bill, known as DAC 9, expands on the EU’s tax transparency directive known as the Directive for Administrative Cooperation, which allows for data sharing among EU countries’ tax administrations.

The DAC 9 rules centralize compliance with the global minimum tax, allowing one company to submit a “top-up tax information return,” instead of multiple companies in a multinational corporation filing by local jurisdiction.

The global minimum tax, adopted by the EU in 2022, seeks to charge ...