The European Parliament today (Thursday) approved the Commission proposal for the implementation of the recent international agreement on a global minimum corporate tax rate 15%.
The report, drafted by Aurore Lalucq (Socialists, France), was adopted by 503 votes to 46, with 48 abstentions.
The text retains the key elements of the Commission proposal, in particular the proposed timetable and application deadline of 31 December 2022with a view to the rapid implementation of legislation.
However, MEPs changed the Commission proposal on key points. In particular, they introduced a clause, which provides for its revision annual revenue threshold under which a multinational will be subject to the minimum tax rate.
They also want to assess the impact of legislation in developing countries.
MEPs are also seeking to reduce some of the exceptions proposed by the Commission and to reduce the possibility of abuse of the rules, in particular by introducing a specific article containing rules to combat tax avoidance schemes.
After the vote, the rapporteur said: “This agreement is not perfect. For example, we would like to have a higher tax rate. However, it is the result of the compromise reached. Today, an agreement between EU ministers and the rapid implementation of legislation is urgent. That’s the guiding principle of today’s vote. “
Next steps
The report, which is Parliament ‘s opinion, is now being forwarded to the Council, which must adopt a final text unanimously.
The aim of the directive is to translate into EU law the reform of the rules on international corporate taxation, agreed by the OECD / G20 in December 2021. This global agreement aims to ensure a minimum corporate tax rate of 15% for large companies. multinational corporations and is an important step towards an efficient and fair profit taxation system.
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