14 Oct
Chapter News, COVID-19 News

IMF | Fiscal Policy for an Unprecedented Crisis

The COVID-19 crisis has devastated people’s lives, jobs, and businesses. Governments have taken forceful measures to cushion the blow, totaling a staggering $12 trillion globally. These lifelines have saved lives and livelihoods. But they are costly and, together with sharp falls in tax revenues owing to the recession, they have pushed global public debt to an all-time high of close to 100 percent of GDP. With many workers still unemployed, small businesses struggling, and 80‑90 million people likely to fall into...

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14 Oct
Chapter News

Green Deal: EU Commission adopts new Chemicals Strategy towards a toxic-free environment

Today, the European Commission adopted the EU Chemicals Strategy for Sustainability. The Strategy is the first step towards a zero pollution ambition for a toxic-free environment announced in the European Green Deal. The Strategy will boost innovation for safe and sustainable chemicals, and increase protection of human health and the environment against hazardous chemicals. This includes prohibiting the use of the most harmful chemicals in consumer products such as toys, childcare articles, cosmetics, detergents, food contact materials and textiles, unless proven...

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14 Oct
Chapter News

Renovation Wave: doubling the renovation rate to cut emissions, boost recovery and reduce energy poverty

The European Commission has published today its Renovation Wave Strategy to improve the energy performance of buildings. The Commission aims to at least double renovation rates in the next ten years and make sure renovations lead to higher energy and resource efficiency. This will enhance the quality of life for people living in and using the buildings, reduce Europe's greenhouse gas emissions, foster digitalisation and improve the reuse and recycling of materials. By 2030, 35 million buildings could be renovated and up to 160,000...

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13 Oct
Chapter News

Boeing subsidy case: World Trade Organization confirms EU right to retaliate against $4 billion of U.S. imports

Today, the World Trade Organization (WTO) allowed the EU to raise tariffs up to $4 billion worth of imports from the U.S. as a countermeasure for illegal subsidies to the American aircraft maker, Boeing. The decision builds upon the WTO’s earlier findings recognising the U.S. subsidies to Boeing as illegal under the WTO law. Executive Vice-President for an Economy that Works for People and Commissioner for Trade, Valdis Dombrovskis, said: “This long-awaited decision allows the European Union to impose tariffs on American...

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13 Oct
Member News

Loyens & Loeff | OECD releases updated Pillar Two proposal for global minimum effective taxation

On 12 October 2020, the OECD released for public consultation updated reports on its two-pillar proposal to address the tax challenges of the digitalisation of the economy. The Pillar One proposal focuses on new nexus and profit allocation rules for certain business models, whereas the Pillar Two proposal pursues more broadly a global minimum effective taxation. The reports identify key issues, both political and technical, where divergences remain to be solved. The goal is to reach consensus amongst the 137 participating jurisdictions by mid-2021....

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13 Oct
Member News

Loyens & Loeff | OECD releases updated Pillar One blueprint on new taxing right for market jurisdictions

On 12 October 2020, the OECD released for public consultation updated reports on its two-pillar proposal to address the tax challenges of the digitalisation of the economy. The Pillar One proposal focuses on new nexus and profit allocation rules for certain business models, whereas the Pillar Two proposal pursues more broadly a global minimum effective taxation. The reports identify key issues, both political and technical, where divergences remain to be solved. The goal is to reach consensus amongst the 137 participating jurisdictions by mid-2021....

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13 Oct
Chapter News

OECD | International community renews commitment to address tax challenges from digitalisation of the economy

The international community has made substantial progress towards reaching a consensus-based long-term solution to the tax challenges arising from the digitalisation of the economy, and agreed to keep working towards an agreement by mid-2021, according to a Statement released today. The OECD/G20 Inclusive Framework on BEPS, which groups 137 countries and jurisdictions on an equal footing for multilateral negotiation of international tax rules, agreed during its 8-9 October meeting that the two-pillar approach they have been developing since 2019 provides a solid foundation...

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13 Oct
Member News, Trade & TTIP Related

GDLSK | Petition for the imposition of anti-dumping duties on thermal paper from Germany, Japan, Korea and Spain

I.  Type of Action: Antidumping Duty (“AD”): Thermal Paper from Germany, Japan, Korea and Spain II.  Product: Thermal paper is a paper coated with chemicals that react to form images when exposed to heat. Thermal paper can be used in special printers to create an image without ribbons or other consumables (other than the paper itself). When imaging, the thermal paper containing the dye is passed between the thermal print head and the platen roll in the printer. The thermal head...

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13 Oct
Member News

EIB | The EU Bank supports European regions and cities in their response to the Covid-19 crisis and for a green recovery

Amid the Covid-19 pandemic, the European Investment Bank (EIB) makes lending more flexible and faster for cities and regions in order to meet urgent financing needs New financing support to regions and cities announced for health sector, infrastructure, urban regeneration, SMEs and climate action and more to come In response to the coronavirus pandemic, the EIB quickly deployed a support plan to support the European economy and help meet the most urgent financing needs of regions and municipalities. Recognizing...

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13 Oct
Chapter News, COVID-19 News

Coronavirus Dashboard: EU Cohesion Policy response to the coronavirus crisis

Today, the Commission announces the first provisional results of the implementation of the Coronavirus Response Investment Initiative (CRII) and Coronavirus Response Investment Initiative Plus (CRII+). From the beginning of the crisis, and thanks to the flexibility introduced in the Cohesion Policy, the EU mobilised over €13 billion in investments to tackle the effects of the coronavirus pandemic, through the European Regional Development Fund (ERDF), the European Social Fund (ESF) and the Cohesion Fund (CF). The EU funds helped national, regional and local communities in countering the...

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