The Council of the European Union has published a draft resolution on a revised Code of Conduct for Business Taxation, which was discussed by the Code of Conduct Group (COCG) on 22 November 2021 and received broad support at the Working Party on Tax Questions (High Level) on 25 November 2021. Some of the key revisions include new provisions regarding the scope of harmful tax measures, including that "Preferential tax measures which provide for a significantly lower effective level of taxation, including zero taxation, than those levels which generally apply in the member state in question are to be regarded...