In its 2022 European Semester spring package, the European Commission has provided Member States with support and guidance on tax policy. Fiscal policy guidance The activation of the general escape clause of the Stability and Growth Pact in March 2020 allowed Member States to react swiftly and adopt emergency measures to mitigate the economic and […]
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European Semester Spring Package 2022
The European Commission’s 2022 European Semester Spring Package provides Member States with support and guidance two years on from the first impact of the COVID-19 pandemic and in the midst of Russia’s ongoing invasion of Ukraine. The Spring 2022 Economic Forecast projects the EU economy to continue growing in 2022 and 2023. However, while the EU economy […]
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Provisional agreement reached to make international trade easier
The Council and the European Parliament reached a provisional agreement on a single window for customs which sets the appropriate conditions for digital collaboration between customs and partner competent authorities. The aim is to make international trade easier, shorten customs clearance times and reduce the risk of fraud. It will also help reduce the administrative burden […]
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Antitrust: Commission carries out unannounced inspections in the fashion sector
On 17 May the European Commission has started unannounced inspections at the premises of companies active in the fashion industry in several Member States. In parallel, the Commission has sent out formal requests for information to several companies active in the fashion sector. The Commission has concerns that the companies concerned may have violated Article 101 of […]
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Spring economic forecasts: Spain is expected to be the fourth fastest-growing economy in the EU
The outlook for the EU economy before the outbreak of the war was for a prolonged and robust expansion. But Russia’s invasion of Ukraine has posed new challenges, just as the Union had recovered from the economic impacts of the pandemic. By exerting further upward pressures on commodity prices, causing renewed supply disruptions and increasing […]
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Parliament set to back global minimum corporate tax rate
MEPs are expected to back new rules for a global minimum corporate tax rate from 2023 during the plenary session on 18-19 May. On 18 May, Parliament will consider a report by the economic and monetary affairs committee on ensuring a minimum corporate tax rate for large multinational corporations. The directive will apply to companies with […]
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Commission will phase out State aid COVID Temporary Framework
The European Commission will phase out the State aid COVID Temporary Framework, adopted on 19 March 2020 and last amended on 18 November 2021, enabling Member States to remedy a serious disturbance in the economy in the context of the coronavirus pandemic. The State aid COVID Temporary Framework will not be extended beyond the current expiry date, which is 30 […]
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Spain: EUR 150m EIB loan for hospitals in Galicia
The EIB provides EUR 150m to modernise and expand two public university hospital complexes in the Spanish region of Galicia The Vice President of the EIB, Ricardo Mourinho Félix, and the acting Minister of Finance and Public Administration of the Xunta de Galicia, Miguel Corgos López-Prado, met this morning in Santiago to discuss the collaboration […]
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New tool to protect internal market against distortive foreign subsidies
To ensure a level playing field for all companies operating in the internal market, member states agreed a negotiating mandate for the regulation on foreign subsidies distorting the internal market. The regulation aims to address the distortions created by subsidies granted by non-EU countries to companies operating in the EU’s single market. It establishes a comprehensive framework for the […]
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