ECOFIN discuss the proposed Pillar Two Minimum Tax Directive

The Economic and Financial Affairs Council discussed the work on the transposition into EU law of the global agreement reached at the OECD Inclusive Framework that multinationals should not pay less than 15 percent tax anywhere in the world (Pillar Two). EU Member States have made progress on the Directive however, they were unable to reach agreement at this week’s ECOFIN meeting, with one Member State, Poland, opposing the proposed Directive. The proposed Directive will be discussed again at the next meeting of ECOFIN on 24 May.