New rules that entered into force on Monday provide a minimum effective tax rate of 15% for multinational companies active in European Union (EU) member states, according to a news release Monday from the European Commission.
The entry into force of these rules, which the EU member states agreed to unanimously in 2022, formalises the EU's implementation of Pillar Two rules. Those rules were part of a global deal on international tax reform reached in 2021.
Almost 140 jurisdictions worldwide