EU countries to revise implementation timeline – but still have not agreed to Pillar Two rules

The Pillar Two rules proposed by the EU Commission have been discussed in several ECOFIN meetings during the spring. In these discussions, the EU members have agreed to revise the timeline for implementation of the rules such that they are implemented by December 2023 (rather than December 2022 as in the OECD’s original timeline). However, Poland is opposing the rules with reference to the on-going work on Pillar One, and given that the EU requires unanimous approval, it has not been possible to move forward with the implementation of Pillar Two. Material from ECOFIN’s meeting on 5 April is available here.