The European Commission aims to complete a full revision of its tax reporting framework by the end of this year, with a separate simplification bill to be advanced for approval by 2027.

Benjamin Angel, director of the EC's Direct Taxation Department, spoke during an online conference hosted by the U.S. branch of the International Fiscal Association.

The simplification proposal would relieve large multinational groups from complying with certain EU anti-tax-avoidance rules and is expected to be approved by the end of 2027.