Quote from Ernest Urtasun on today's ECOFIN Council

Today’s Economic and Financial Affairs Council is expected to reach an agreement on the global minimum tax level for multinationals. This agreement, which was reached at OECD level, provides for a minimum tax rate of 15% and needs to be transposed into European law.

Ernest Urtasun MEP, Greens/EFA Group Vice President and member of the Committee on Economic and Monetary Affairs and the Subcommittee on Fiscal Affairs, comments:

"We have good reason to believe that the French Presidency will reach an agreement on the transposition of the global agreement reached at OECD level. This would be a decisive step in our fight for tax justice.

"However, we regret that this transposition may be delayed until December 2023. The urgency is obvious. After two years of pandemic and a war on our doorstep, national budgets are stretched to the limit.

“Delaying this crucial measure would be a serious mistake and it demonstrates once again that the unanimity rule is detrimental to the common interest of Europeans."

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The issue of economic sanctions imposed on Russia following the war of aggression against Ukraine will also be on the agenda of the ministers' meeting.

MEPs working on financial affairs from the Greens/EFA Group have drawn up an action plan to tackle the thorny problem of Russian oligarchs exploiting loopholes in EU structures to hide their wealth, which can be found here.