After the ‘green light’ on Tuesday, the new directive will be formally adopted by the Council, which acts as a single legislator, and then published in the official newspaper and entering the day after its publication.
The European Union Finance Ministers (EU) agreed on Tuesday on simpler rules, which come into force next December, to declare multinationals within the minimum rate of 15% on OECD agreed companies.
“The Council today has come to a political agreement on a new EU directive that will improve administrative cooperation in the field of tax. better fulfill the fulfillment obligations that groups of multinational companies and large national groups have in the shelter […] From the Global G20/OECD agreement, “the structure that brings together the Community Member States indicates in a statement.
On the day the EU finance ministers meet in Brussels – with Portugal being represented by the Secretary of State and Budget, José Brito – there has been an agreement on the new legislation that will update the current directive regarding administrative cooperation, widening the rules of fiscal transparency and simplifying the presentation of reports by large companiesas well as the exchange of data between the tax authorities, for alignment with the minimum tax rules worldwide.
A form is also in question that multinationals and large groups will be required to use to communicate tax information necessary to ensure the operation of the minimum tax rate system.
Following the historical agreement on the international tax reform reached in 2022, the profit of large groups or multinational and national companies with a combined annual turnover of at least 750 million euros should be taxed at a minimum rate of 15%.
Measure will have to be applied until December 31
After the ‘green light’ on Tuesday, the new directive will be formally adopted by the Council, which acts as a single legislator, and then published in the official newspaper and entering the day after its publication.
Member States will have to apply it until December 31, 2025.
At the meeting of EU finance ministers have also given their final approval to a set of laws designed to adapt the EU Value Value (VAT) rules to the digital age, with all obligations to be fully digital by 2030.
Even today, at the same time, European governments approved greater flexibility in managing their investment capacity which will raise the maximum limit of the 250% indebtedness ratio the nominal exposure of the group to 290%.
