EU Countries Rebuff Corporate Tax Contribution in Budget

A large majority of European finance ministers panned an EU proposal for a lump-sum contribution from large companies based in Europe, which they said would harm the bloc’s competitiveness.

The EU needs to go back to “the drawing board,” bloc Dutch Finance Minister Eelco Heinen said.

He and French, Slovak, Portuguese, Lithuanian, German, Czech, and Maltese ministers were among those criticizing the measure at a public meeting of EU finance ministers in Luxembourg, the first since the commission published its budget proposal in July.

The lump-sum contribution, known as ...