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.
The high net worth (HNW) offshore investment market, catering to affluent individuals with substantial financial assets, has witnessed steady growth over recent years. Valued at approximately USD 15.19
Luxembourg is preparing to shut down a scheme which grants non-EU nationals a residence permit in exchange for investing €500,000 in a business in the country. A draft law, submitted to parliament
Hong Kong’s financial market is poised for a significant milestone with the upcoming launch of the region’s first Spot Crypto Exchange-Traded Funds (ETFs). This groundbreaking initiative is being
The value of Bitcoin has reached a new high, just days after the previous record was broken. On Monday morning one Bitcoin, the best-known cryptocurrency, could buy $72,219 (£56,303). The price of