EU PUSHES AHEAD WITH BEPS MINIMUM TAX RATES LAW – BUT WILL THE USA FOLLOW SUIT?
January 22nd, 2023
The unanimous approval of a European Union (EU) directive (1) by the EU Council of Ministers on December 12, that will write pillar 2 of the OECD’s BEPS model (2) into European law – will force accountants to reassess the tax liability of their largest clients. The law imposes a 15% minimum tax rate on multinationals’ operations in the EU and applies to groups whose annual turnover exceeds EUR750 million, and which have either a parent company or a subsidiary in an EU member state.
The global BEPS (Base Erosion and Profit Shifting) system was first mooted ...
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