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Speaking at an EU Tax Observatory event in Brussels, Reinhard Biebel, the head of unit for direct tax policy and cooperation in the European Commission, said he disagrees with those calling for the repeal of the law, known as DAC6.

Hoekstra said the EU is keen to engage with the US in seeking a solution to an EU law that could tax US companies if they’re found to be paying less than a 15% effective corporate rate. He was speaking Tuesday at an EU Tax Observatory event in Brussels.

The movement to tax the ultra-rich has developed a number of proposals to achieve greater tax fairness. The most important is that of French economist Gabriel Zucman, who aims to create a minimal global tax on the wealth of millionaires and billionaires.

President Trump’s tariffs have plunged the world economy into chaos. But history counsels against despair – and the left should seize on capitalism’s crisis of legitimacy.

The effective tax paid by multinationals in the European Union (EU) fell by 2.7 percentage points between 2014 and 2022, to 18.1 per cent, mainly on the back of reforms that have reduced the tax base and are ‘exacerbated by tax competition’ between member states.

EU Tax Observatory's study warns that corporate tax has been reduced by nearly five percentage points since 2014 for multinationals operating in our country.

Another way that rich individuals can enjoy low effective tax rates is through the use of shell companies, according to the EU Tax Observatory.

A study by the EU Tax Observatory highlights the decline in the effective tax rate for large corporations and the proliferation of tax exemptions available to them.

EU Tax Observatory Urges More Talks on Pillar 2 Tax Incentives

Reforms that reduce the corporate tax base are gaining ground among European countries, according to a study by the EU Tax Observatory.