The article "EU eyes another go at more unified European business taxation" discusses the EU's plan to propose a more unified way of taxing companies in 2023, hoping it will stand a better chance if they follow global OECD solutions. They plan to adjust the EUs business taxation to make it more up-to-date with the modern world and stop the Government from competing by lowering tax rates to attract investment and creating a way to tax profit in countries where their customers these companies are rather than where the companies set up their offices for tax purposes. Their proposal, Business in Europe: Framework for Income Taxation, is a set of corporate tax rules for the whole EU which would allow taxing and reduce the barriers to cross-border investment, cut red tape and compliance costs, combat tax avoidance, and support jobs growth and investment. The proposal also includes a new EU law to force large multinationals to publish the effective tax rate they pay in the EU and protect against the abusive use of shell companies to minimize tax bills.

An article in the Wall Street Journal, Europeans Are Becoming Poorer. Yes, Were All Worse Off' narrated the economic reality the Europeans are facing as their purchasing power melts away. The predicament has been long making but was quickened by the Covid 19 and Russias protracted war in Ukraine, with the Government's response to preserve jobs by subsiding the employer but failing to leave a cash cushion for the consumers affecting the market. With European governments needing to increase defense spending and given rising borrowing costs, economists expect taxes to grow, adding pressure on consumers. Taxes in Europe are already high relative to those in other wealthy countries, equivalent to around 40-45% of GDP compared with 27% in the U.S. American workers take home almost three-quarters of their paychecks, including income taxes and Social Security taxes. In contrast, French and German workers keep just half.

Tax policy in the European Union is based on several treaty provisions that relate to the harmonization of indirect taxation, and the proposal emphasized the urgent and continuous need for reform of the tax laws so that international EU and national tax systems are fit for the new economic, social and technology challenges of the 21st century. EU also welcomed the historic agreement the Organization for Economic Co-operation and Devellpoemenmt(OECD) and G20 reached on reforming the international tax system to ensure a fairer distribution of profits and taxing rights among countries where value is created.