(Note EUTAX n°1) Minimizing the minimum tax? The critical effect of substance carve-outs

July 2021 - The EU Tax Observatory publishes today a note on the effect of substance carve-outs on the revenues of a global minimum tax. It also details the economic issues raised by this type of exemption.
To access the full note, go to this link.
This note complements the EU Tax Observatory’s first report, published in June 2021, on estimating the amount of tax revenue the European Union could raise by imposing a minimum tax on the profits of multinational companies. The latter is available here.