As published on: reuters.com, Friday 4 October, 2024.
The European Commission is suing EU member states Spain, Cyprus, Poland and Portugal for failing to implement rules aimed at ensuring a global minimum level of taxation for multinational companies, it said on Thursday.
All four countries were required to enforce the necessary laws by the end of 2023, the Commission said, adding that they had failed to notify it on any such step.
Spanish Budget Minister Maria Jesus Montero said Spain was a “pioneer” in the push for a minimum tax for multinational companies and would comply with the EU requirements in the coming months, with parliament expected to approve new legislation by the end of the year.
“We have a regulation that currently includes the 15% tax… but there are other things that need to be incorporated, which is what the Commission is referring to,” she said.
Contacted by Reuters, the Portuguese government had no immediate comment.
Australia has axed its so-called “golden visa”, which granted wealthy overseas investors the right to live in the country. Designed to attract foreign business, it was cut in an immigration
Oxfam reported in a new publication on Wednesday that nearly 41 billion U.S. dollars in World Bank climate finance—approximately 40 percent of the climate funds disbursed by the Bank over the past
The South Korean carmaker is facing charges similar to those slapped on Volkswagen for missclassifying imports of parts for its Carnival minivan. Kia has been accused by Indian authorities of evading
Washington Democrats are preparing for a legislative session where new taxes will be a major focus to solve a multi-billion dollar state budget hole. House Speaker Laurie Jinkins, D-Tacoma, and Senate