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Agreement Reached by EU Member States for Global Minimum Tax

14 December 2022

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Proposed Changes

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European Union

According to a European Council press release, ambassadors of EU Member States (Committee of Permanent Representatives - Coreper) have unanimously decided to advise the Council to adopt the proposed directive on ensuring a global minimum level of taxation for multinational groups in the EU (the Pillar 2 global minimum tax). Although not stated in the release, this follows a change in position on the proposed global minimum tax by Hungary, which strongly opposed the minimum tax as recently as last week. This likely has to do with Hungary's recovery and resilience plan, which was also approved by EU Member States...