Debate has arisen between EU Member States' finance ministers at an Economic and Financial Affairs Council (ECOFIN) meeting on 17 January, regarding implementation of the OECD/G7's 15 per cent minimum tax on large multinational companies. The French presidency of the Council of the European Union, supported by Austria, Germany and the Netherlands, want the new Pillar 2 minimum tax directive to be adopted in the first half of 2022, but Estonia, Hungary, Poland and Sweden would prefer it to be linked to the Pillar 1 rules on reassignment of taxation rights. Switzerland and the UK have already announced their implementation plans for the tax, proposed to take effect in 2023 in the UK and 2024 in Switzerland...