The EU is readying a new corporate tax rulebook that will target multinationals where they base their sales, assets and workforce. The tax roadmap was originally intended for publication in April, but was delayed following progress at the OECD talks, which are now expected to wind up in the summer. The OECD talks were unblocked by the new US administration earlier this year, which has since proposed a global minimum tax rate of 21pc. Mr Gentiloni and EU vice-president Valdis Dombrovskis both expressed reluctance to switch to majority voting on future corporate tax laws. Mr Dombrovskis said the Commission would “definitely explore” majority voting in future tax laws - via a clause known as article 116.

Source: Irish Independent May 18, 2021 19:18 UTC