During a meeting of the European Parliament's Committee on Economic and Monetary Affairs on 3 June 2021, Cypriot Finance Minister Constantinos Petrides stated that Cyprus opposes any directive that would impose a global minimum tax as proposed by the U.S. and recently agreed to by G7 Finance Ministers. Cyprus, which has a corporate tax rate of 12.5%, joins Ireland and Hungary in opposing the proposed global minimum tax of at least 15%. According to a brief release on the meeting, Petrides ha…