After U.S. push, EU pauses tax plan, but Ireland sticks to its guns

FILE PHOTO: European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium May 5, 2021. REUTERS/Yves Herman/File Photo/File Photo

BRUSSELS (Reuters) -The European Union has agreed to delay a corporate tax plan for the bloc following pressure from the U.S. administration and in a bid to facilitate a broader global tax deal, but EU member Ireland reiterated its criticisms of the wider reform.

The world's 20 largest economies endorsed on Saturday a plan for a global overhaul of corporate tax that would introduce a minimum tax rate and change the way large companies like Amazon and Google are taxed, based partly on where they sell their products and services rather than on the location of their headquarters.