EU Proposes Law to Implement OECD Deal on Minimum Global Corporate Tax

European Commissioner for Economy Paolo Gentiloni delivers his speech at the European Parliament, in Strasbourg, France, on Oct. 6, 2021. Jean-Francois Badias/Pool via Reuters

BRUSSELS—The European Commission proposed a law on Wednesday that would implement in Europe a global deal struck among the 20 biggest world economies (G20) on a minimum tax rate for companies.

The Commission proposal includes a common set of rules on how to calculate the globally agreed 15 percent effective tax rate, so that it is consistently applied across the EU.