The Trade Facilitation Agreement (TFA) – the most significant multilateral trade deal concluded since the establishment of the World Trade Organisation (WTO) in 1995 - enters into force today. The ratifications by Chad, Jordan, Oman and Rwanda today means the deal has reached the pre-determined threshold of 110 WTO members required for its immediate entry into force. This agreement aims to simplify and clarify international import and export procedures, customs formalities and transit requirements. It will make trade-related administration easier and...

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What does today's package include? Today, the Commission publishes: 27 Country Reports (for all Member States except Greece, which is subject to a stability support programme), including the In-Depth Reviews (IDRs) for 13 countries identified in the Alert Mechanism Report of last November a Chapeau Communication on the main findings and results of the Country Reports and IDRs a report on the implementation of the Fiscal Compact in national legal frameworks and an accompanying Communication "Fiscal Compact: Taking Stock" a...

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On 21 February 2017, the Council agreed its position on rules aimed at closing down 'hybrid mismatches' with the tax systems of third countries. The draft directive is the latest of a number of measures designed to prevent tax avoidance by large companies. It seeks to prevent them from exploiting disparities between two or more tax jurisdictions to reduce their overall tax liability. Such arrangements can result in a substantial erosion of the taxable bases of corporate taxpayers in the EU. The directive will contribute to...

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Introduction The Council considers that the budget for 2018 should provide adequate resources to continue supporting the traditional and evolving priorities within the Union, namely the recovery of the European economy, to address humanitarian and security challenges both within and outside the EU borders and to honour commitments already made under the current and previous programming periods. The Council recalls the principle of solidarity and underlines that a transparent and an effective use of the EU budget will contribute to the...

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If the EU is to boost its capacity to act, restore citizens’ trust and make the euro zone economy more resilient to outside shocks, it needs to make full use of the Lisbon Treaty. But to go further, it needs to reform itself more fundamentally. This was the key message of three resolutions exploring the future development of the European Union approved by Parliament on Thursday. The first resolution, drafted by Mercedes Bresso (S&D, IT) and Elmar Brok (EPP, DE)...

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Austrian President Alexander Van der Bellen held a passionate speech in favour of the EU at the European Parliament and said the challenges facing Europe could only be tackled together. Van der Bellen was addressing MEPs in Strasbourg on 14 February as part of his first official foreign trip. During the speech he said: “The European idea is great. It is unique. It is worth all the effort." Parliament President Antonio Tajani welcomed the Austrian president and said: "Twenty years...

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All EU Member States' economies set to grow in 2016, 2017 and 2018 © European Union 2017 Having proven resilient to global challenges last year, the European economic recovery is expected to continue this year and next: for the first time in almost a decade, the economies of all EU Member States are expected to grow throughout the entire forecasting period (2016, 2017 and 2018). However, the outlook is surrounded by higher-than-usual uncertainty. Real GDP in the euro area has grown for...

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MEPs vote this week on plans to reform the EU's emissions trading system (ETS), a scheme set up to help reduce greenhouse gases, which is not not working as expected. Although the EU is the world's third largest CO2 emitter, it also harbours the most ambitious climate target: to cut emissions by at least 40% by 2030 compared to 1990 levels. The plans voted on in Parliament this week should help achieve this target while maintaining Europe’s industrial competitiveness. Launched...

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The Council working group that oversees implementation of the EU's code of conduct on business taxation has appointed a new chairperson. Fabrizia Lapecorella (Italy) took up the position at the beginning of February 2017 for a period of two years. Appointed at the group's meeting on 25 January 2017, she replaces Dr Wolfgang Nolz (Austria), who had chaired the group since 2009. The code of conduct on business taxation sets out criteria for assessing tax measures that potentially encourage harmful tax...

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On 9 February 2017 Council and European Parliament representatives reached a provisional agreement on a decision establishing a European Year of Cultural Heritage (2018).  Cultural heritage encompasses resources from the past in a variety of forms and aspects. These include monuments, sites, traditions, transmitted knowledge and expressions of human creativity, as well as collections conserved and managed by museums, libraries and archives. The aim of this initiative is to raise awareness of European history and values and to strengthen a sense...

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