The European Commission decided to refer Spain to the Court of Justice of the European Union for failure to ensure correct implementation of the Merger Directive on the common system of taxation applicable to Member States (Directive 2009/133/EC). The objective of the Merger Directive is to remove fiscal obstacles to cross-border reorganisations involving companies situated in two […]
European Citizens’ Initiative on taxation of greenhouse gas emissions
The European Commission decided to register a European Citizens’ Initiative (ECI) entitled ‘Save the Planet by shifting taxation from labour to greenhouse gas emissions’. The organisers of the initiative call on the Commission to strengthen the Fit for 55 Package and the EU carbon pricing system by setting a faster phase-out of free allowances and allowing […]
New EU fiscal rules approved by MEPs
MEPs approved a revamp of EU fiscal rules making them clearer, more investment friendly, better tailored to each country’s situation, and more flexible. The new rules, approved on Tuesday, were provisionally agreed upon between European Parliament and member state negotiators in February. Focus on investments MEPs significantly beefed up the rules to protect a government’s capability to […]
Ministers update EU list of non-cooperative tax jurisdictions
The Council removed Bahamas, Belize, Seychelles and Turks and Caicos Islands from the list of non-cooperative jurisdictions for tax purposes. With these updates, the EU list consists of the following 12 jurisdictions: American Samoa Anguilla Antigua and Barbuda Fiji Guam Palau Panama Russia Samoa Trinidad and Tobago US Virgin Islands Vanuatu The Council regrets that […]
Southern Europe calls for fiscal rules to secure recovery
The depth of the reform of the Stability and Growth Pact for the post-Covid era marks the first two EU economic meetings. EUROGROUP Meeting 17-18 January 2022 Eurozone finance ministers (Eurogroup) kicked off their 2022 meetings on Monday 17 with a new debate on the future of the common currency’s economic governance, which includes the […]
EU forces more tax transparency on multinationals
As of October 2021, Panama is on the EU list of non-cooperative jurisdictions for tax purposes. Multinational companies will have to disclose publicly how much tax they pay in each EU country, which will increase scrutiny of their tax practices. On 11 November MEPs will vote on a provisional agreement with the Council that would […]