EU Panel Presses For Quicker Minimum Tax Implementation

European Union countries should press ahead more quickly than currently envisaged with implementation of a global minimum tax on company profits, a European Parliament panel said.

Instead of the December 2023 deadline currently discussed by EU countries for a minimum 15% tax to take effect, EU governments should be ready to start applying the tax by Dec. 31 this year, members of the parliament’s economic and monetary affairs committee said in an opinion adopted Thursday.

The European Commission, the EU’s executive, proposed in December a framework law intended to ensure EU countries implement the minimum tax deal in a ...