PARIS (Reuters) – France, Germany, Italy, Spain and the Netherlands said on Friday they would implement the global corporate tax (CIT) rate floor next year by “all possible means”, in case Hungary does not lift its veto which blocks a common decision at European Union level.
“We stand ready to put in place the minimum effective global rate (IS) in 2023 and this, by all legal means possible”, declare the finance ministers of the five countries in a joint press release.
“If we do not achieve unanimity in the coming weeks, our governments are fully determined to follow through on our commitment,” they add.
Hungary raised last-minute objections in mid-June to the plan to introduce a CIT floor rate of 15%, blocking the EU-wide adoption of this international reform discussed under the aegis of the OECD (Organization for Economic Co-operation and Development).
(Report Leigh Thomas, French version Myriam Rivet, edited by Bertrand Boucey)
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