According to a statement by the executive arm of the EU, “this is a positive measure that stabilises the global system of minimum taxes, simplifies rules, guarantees equity and maintains the companies competitiveness”.

The pact approved by 145 countries gave the green light to a proposal that includes a particular exemption mechanism for US companies in the face of Washington’s threat to stay out of the scheme.

Since 2021, the Independent Commission for International Corporate Tax Reform has warned that such a convention will affect developing nations more because they suffer higher tax losses from abuses against them and depend on tax revenues on business income.

However, according to Brussels, the treatment safeguards the minimum effective taxation of multinational companies and improves legal certainty and predictability for European companies, while strengthening the stability of the international tax system.

The day before, the OECD approved the adoption of a 15% minimum tax for multinationals, which in its view represents a major political and technical commitment that will lay the foundations for stability and legal certainty in the international tax system.

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