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 US Treasury Department has taken a significant step towards addressing the burgeoning world of Non-Fungible Tokens (NFTs) by recommending closer collaboration between the government, industry stakeholders,
Anthony Thomson, co-founder of Metro Bank and Atom Bank, is launching a new venture aimed exclusively at the global super-rich. Family Offices Bank (FOB) will target ultra-high-net-worth individuals
The United States and the Group of Seven nations have agreed to support a proposal that would exempt US companies from some components of an existing global agreement, the G7 said in a statement on
The UK’s Chancellor of the Exchequer Rachel Reeves has kicked off plans to end tax breaks for wealthy expatriates and close a tax “loophole” on private equity performance fees. The Treasury said