EU Report Shows Draft Tax Rules Face Multiple Hold-ups

EU countries continue to make slow progress in agreeing on new tax rules, with discussions often stuck at technical level, according to a state-of-play report approved by EU finance ministers Friday.

The ministers prepared the report for EU leaders, who will meet June 27-28, with a summary of EU-level progress on lawmaking on taxation. The report comes before Belgium hands off the EU Council presidency to Hungary at the start of July.

A proposed directive that would harmonize the way EU countries treat transfer pricing “cannot be supported by Member States in its current form,” and “further important ...