The measure is expected to enter into force in Europe on 31 December 2023.
The leaders of the 27 EU member states approved on Thursday the incorporation into European law of the minimum tax of 15% on the profits of multinational companies, after the removal of obstacles by Hungary and Poland.
The measure is expected to enter into force in Europe on December 31, 2023.
The unanimity of the 27 was necessary to approve the draft directive prepared by the European Commission to implement the agreement on more tax fairness, which was adopted last year by almost 140 countries under the auspices of the OECD (the Organization for Economic Co-operation and Development).
Warsaw and Budapest have blocked progress on the dossier since the start of the year to secure EU approval of their plans to revive their economies, which involve billions of euros in subsidies.
After receiving assurances that these plans would be given the go-ahead, both lifted their reservations as part of a compromise on various files, which also included providing Ukraine with 18 billion euros in macroeconomic aid in 2023.
For the end of “a long journey with obstacles at every step”, the “predominance of unity” which will “benefit all the Member States and all the citizens of the EU” spoke of the Commissioner for Economy Paolo Gentiloni in his announcement.
The global minimum tax is only part (the so-called second pillar) of the OECD agreement.
The first pillar, which foresees the imposition of taxation in the countries where they secure their profits, in order to put an end to some tax evasion practices, mainly concerns the giants of the digital economy. To be implemented, an international agreement is needed, which has not yet been finalized.
French President Emmanuel Macron, spearheading this issue for years, praised the “major progress for all those who want (…) tax justice”.
German Chancellor Olaf Scholz also praised the decision, which he “wholeheartedly” supports, to impose a minimum tax on multinationals.
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