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EU Lawmakers Call for Tighter Minimum Tax Implementation Rules

May 19, 2022, 4:27 PM

The European Union’s implementation plan for the proposed global minimum tax should tighten language against abuse and avoidance and should build in provisions for updating the rules, the European Parliament said Thursday.

In particular, it said, there should be a review after five years to decide whether the taxing threshold should be changed. The minimum tax is to apply initially to multinational groups with global revenues above 750 million euros.

To prevent companies from circumventing the rules, EU countries also should be required to disregard arrangements “put in place for the essential purpose of obtaining a tax advantage that defeats ...