According to Wallstreetcn, a European Commission official reiterated that the EU aims to complete a full revision of tax reporting rules by the end of this year and pass a separate bill by the end of 2027 to simplify EU tax rules. Benjamin Angel, director of the European Commission's direct taxation department, said at an online conference hosted by the U.S. branch of the International Fiscal Association that the comprehensive simplification proposal would exempt large multinational groups from complying with some EU anti-tax-avoidance rules and is expected to be approved by the end of 2027.