the new lawsuit, noted that the challenge takes aim at the European Council's"legal authority to impose the new tax—a power historically reserved for sovereign countries—and its use of emergency powers to secure member states' approval for the measure."
"The new tax is due to take effect from December 31 and will apply a levy of at least 33% on any taxable profits in 2022-23 that are 20% or more above average profits between 2018 and 2021," the newspaper explained.
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