At the Economic and Financial Affairs Council meeting the ministers agreed an amendment to EU tax rules that will close a loophole which had allowed cross-border corporations to profit from double non-taxation. At the Economic and Financial Affairs Council meeting on 20 June the ministers agreed an amendment to EU tax rules that will close a loophole which had allowed cross-border corporations to profit from double non-taxation. The agreed amendment to the parent-subsidiary directive (2011/96/EU) will put an end to the...

Read more

During today’s (18.06.2014) Coreper meeting, Ambassadors of the 28 EU member states agreed on a General Approach on the Anti-Money Laundering (AML) legislative package, comprising the 4th AML Directive and the new Fund Transfer Regulation. This agreement constitutes the negotiating mandate for the incoming Italian Presidency to conduct trilogues with the European Parliament. The agreement is important as it strengthens the rules and the tools to be used in the fight against money laundering and terrorist financing, in line with...

Read more

“Six themes, one continent, a journey of a lifetime”:  is an apt description of the European Commission’s collection of stories by experienced travel writer, Andy Round, as he journeyed throughout Europe, delving well beneath the typical tourist veneer. He followed fashion in more than the usual venues, experienced cities through their history and architecture, investigated the coastlines and civilizations from north to south and east to west, explored the majesty and magic of several European monarchies, participated in the wintry...

Read more

Labour taxes remain major source of tax revenue The overall tax-to-GDP ratio1, meaning the sum of taxes and compulsory social contributions in % of GDP, in the EU282 stood at 39.4% in 2012, up from 38.8% in 2011. The overall tax ratio in the euro area2 (EA18) increased to 40.4% in 2012 from 39.5% in 2011. In 2013, Eurostat estimates show that tax revenues as a percentage of GDP are set to continue rising in both zones. The tax burden varies...

Read more

European Commission - SPEECH/14/458   12/06/2014 | Neelie KROES, Vice-President of the European Commission responsible for the Digital Agenda at Founders' Forum | London, 12 June 2014 Too often I hear that Europe needs a Silicon Valley. We don't need one, because we have our own. The difference is that Europe doesn't have one Valley. We have a few dozen. Spread all over Europe. It is called 'Start-Up Europe'. Start-Up Europe is a collection of hubs with magnificent start-ups. Great ideas. Ambitious...

Read more

"Combining the legacy of the past with helping Europe recover from the crisis, and this with scarcer resources". This is how EU budget Commissioner Janusz Lewandowski describes the EU's 2015 draft budget as adopted by the Commission today (commitments: €145.6 billion; payments: €142.1 billion). The bulk of the commitments is for future projects that make Europe stronger economically whereas some 40% of the payments still cover EU funded projects from the 2007-2013 financial period. Also the Commission is proposing...

Read more

Brussels, 11 June 2014 -- Today the Commission has proposed measures to further safeguard procedural guarantees in OLAF investigations, in order to complete the already comprehensive reform of the EU's anti-fraud office. The proposal foresees the creation of a new Controller of Procedural Guarantees, who would have two main functions. First, he would be responsible for reviewing and providing recommendations on complaints that might be lodged by anyone implicated in an OLAF investigation. Second, OLAF will have to get...

Read more

Today, 6 June 2014, a meeting of the Council of EU Ministers for Telecommunications took place in Luxembourg, chaired by Greek Deputy Minister for Infrastructure, Transport and Networks, Michalis Papadopoulos. During the Council of Ministers for Telecommunications, Member States expressed their views on how the proposed directive for network and information security can contribute to the organisation of cooperation between Member States in order to achieve the maximum level of cyber security for Europe as a whole. The basic element...

Read more