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EU Countries Balk at Accepting 21% Global Minimum Tax Rate

Logo: Bloomberg Law

By Hamza Ali

Opposition in the EU to a high corporate minimum tax rate could be a deciding factor in the OECD-led negotiations on a global tax overhaul. After the Biden administration proposed that the U.S. apply a 21% global minimum rate—sparking speculation that it would push for a high rate in the multilateral talks, too—several European Union countries said they wouldn’t agree to such a high number. Ireland, the Czech Republic, and Hungary have voiced concerns about a higher minimum effective tax rate. Any one of these countries could use its veto power and derail the minimum tax plan in the EU. 

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By Hamza Ali, posted on Thursday April 29, 2021
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