EU sues Spain, Cyprus, Poland, Portugal over tax rule failures

The European Commission is suing EU member states Spain, Cyprus, Poland, and Portugal for failing to implement global minimum level tax rules for multinational companies, it said on Thursday.
FILE PHOTO: European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium, July 14, 2021.
FILE PHOTO: European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium, July 14, 2021. REUTERS/Yves Herman/File Photo
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PARIS (Reuters) -The European Commission is suing EU member states Spain, Cyprus, Poland and Portugal for failing to implement rules aimed at ensuring a global minimum level of taxation for multinational companies, it said on Thursday.

All four countries were required to enforce the necessary laws by the end of 2023, the Commission said, adding that they had failed to notify it on any such step.

Spanish Budget Minister Maria Jesus Montero said Spain was a "pioneer" in the push for a minimum tax for multinational companies and would comply with the EU requirements in the coming months, with parliament expected to approve new legislation by the end of the year.

"We have a regulation that currently includes the 15% tax... but there are other things that need to be incorporated, which is what the Commission is referring to," she said.

Contacted by Reuters, the Portuguese government had no immediate comment.

(Reporting by Tassilo Hummel; additional reporting by Emma Pinedo in Madrid and Patricia Rua in Lisbon; Editing by Alex Richardson)

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