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EU’s Global Minimum Tax Directive will be a significant area of focus for large businesses
The EU directive ensures that large EU groups, wherever headquartered, will now be subject to an effective tax rate of at least 15 per cent on all their profits wherever arising
The adoption by EU member states of a global minimum tax directive (EU directive) last December failed to catch public attention, but it was one of the most significant developments in recent times, James Smyth, partner, International Corporate Tax, Deloitte, said.
Broadly, the effect of enacting the EU directive is that large EU groups, wherever headquartered, will now be subject to an effective tax rate of at least 15 per cent on all their profits ...