EU Puts Revised Global Minimum Tax Agreement Into Effect

The European Commission published changes to the bloc’s minimum tax law in its official journal Monday, putting into legal effect the revised the agreement reached by countries at the OECD last week.

The commission “acknowledges” the agreement “and confirms its application,” a statement said.

The EU’s minimum tax law has been in effect in 2023, but countries at the OECD agreed to a host of new changes to the agreement. The changes included a carve-out for US-headquartered companies, an extension of a temporary exemption from full reporting for many companies, and new rules on substance-based tax incentives, among ...