Global Tax Revamp Gathers Pace as Europe Salutes U.S. Plan (2)

A U.S. proposal for a global minimum corporate tax of at least 15% met with an enthusiastic reception in Europe, bringing the world closer to a deal on sweeping changes to how much multinationals pay, and to which governments.

“This is really a big progress,” German Finance Minister Olaf Scholz said as he arrived for a meeting with European counterparts in Lisbon, minutes after his French counterpart had also offered a positive reaction. “We will really have the chance that in this summer this deal and agreement that we were working for so long can happen.”

The latest pitch ...