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EU Officials to ‘Never Give Up’ on Stalled Global Tax Deal

  • Donohoe say EU shouldn’t wait for Congress to back agreement
  • Indonesia’s Indrawati says support remains across G-20
Paschal Donohoe
Paschal DonohoePhotographer: Valeria Mongelli/Bloomberg

The embattled global tax agreement, struck with much fanfare in Rome last year, received some much-needed support during high-level international meetings in Washington this week.

Ireland’s Finance Minister Paschal Donohoe, who runs the meetings of finance ministers in Europe’s common currency area, said the European Union shouldn’t wait for the US Congress to move forward in approving the deal before implementing a global minimum tax -- a major component of the agreement. An EU directive on that has been held up in recent months by Hungary, which opposes raising its taxes to meet the 15% minimum.