Executive summary
On 5 April 2022, the Council of the European Union (the Council) held an Economic and Financial Affairs Council (ECOFIN) meeting where Finance Ministers publicly discussed the proposal for a Directive on ensuring a global minimum level of taxation for multinational groups in the European Union (EU) (the Pillar Two Directive).1 The meeting took place three weeks following the ECOFIN of 15 March where EU Finance Ministers failed to reach agreement on this Dire…