The tax measure is scheduled to come into force in one year, on December 31, 2023.
The leaders of the 27 member countries of the EU on Thursday approved the implementation of the minimum tax of 15% on the profits of multinational companies in European law after the lifting of the Hungarian and Polish blockades, announced the EU economy commissioner Paolo Gentileni.
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The measure is scheduled to come into force in Europe on December 31, 2023. The unanimity of the Twenty-Seven was required to validate the draft directives prepared by the Commission, which will implement the historic agreement for more tax justice, endorsed last year by almost 140 countries under the umbrella of the OECD.
Warsaw and Budapest, in turn, had blocked these files since the beginning of the year in order to have their economic stimulus programs, which are equipped with billions in subsidies, validated by the EU. Finally, after getting the green light for their recovery plans, the two capitals lifted their reservations as part of a compromise on several dossiers, including the release of €18 billion in macro-financial assistance to Ukraine in 2023. “It has been a long journey with obstacles at every step of the way. Today, unity has prevailed and all member states and all EU citizens will benefit from it,” Paolo Gentiloni said in a statement.