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EU Stumbles in Effort for Quick Adoption of Global Minimum Tax

March 15, 2022, 2:46 PM

The European Union failed to quickly agree on how to implement a global minimum tax for corporations after concessions proposed by France failed to win over reluctant countries.

At a meeting of finance ministers in Brussels on Tuesday, Poland, Sweden and Malta still declined to support a compromise, even as holdouts including Hungary dropped their opposition.

The lack of the required unanimity is a blow to French President Emmanuel Macron, who has made adopting the new rules a key objective of his country’s six-month presidency of the EU that ends in June.

To some extent, the setback reflects the ...