MEPs welcome the agreement on the world’s minimum corporate tax rate as historic – The European Sting – Critical News & Insights on European Politics, Economy, Foreign Affairs, Business & Technology


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This article is presented to you in collaboration with the European Parliament.


On Wednesday morning, MEPs debated with the Commission and the Council the upcoming G7 summit and the topics they hope to address at the EU-US summit on 11 June.

During the debate with Commissioner Valdis Dombrovskis and Portuguese State Secretary Ana Paula Zacarias, MEPs welcomed the agreement reached by the G7 countries on the global minimum corporate tax rate of 15%. Several spoke of a “historic moment” in the fight against tax havens. Others criticized the EU for not being ambitious enough and not demanding higher taxes. Some have warned that “the deal is far from being done” and that it remains to be seen whether all EU countries will accept it.

MEPs also stressed the need to cooperate globally in the fight against COVID-19 and recovery from the pandemic, as well as to work together on climate protection. They also insisted that biodiversity be promoted and that a more democratic world be built.

Welcoming the Biden administration’s commitment on the international stage, many MEPs stressed the need to develop a common approach with the United States to deal with Russia, Belarus and China. They expressed hope for a return to normal multilateral cooperation, stressing the need to focus on things that bring partners together rather than those that separate them. MEPs also insisted that the two partners work to overcome their differences over planes, steel and data.

Watch the full debate here.

Background

Commission and Council Presidents Ursula von der Leyen and Charles Michel will meet the US President on June 15 in Brussels. This is Joe Biden’s first international trip as President of the United States.

Ahead of the EU-US summit, the leaders of the countries that make up the G7 will meet on June 11-13, at the summit in Carbis Bay, Cornwall. The 2021 summit will be their 47th meeting and the first in person in almost two years. The last time the G7 leaders met in person was at the 2019 summit in Biarritz, France.


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