Conclusions of last Friday's ECOFIN Council. The Council discussed a draft amendment to the EU parent-subsidiary directive aimed at stopping tax avoidance and aggressive tax planning by corporate groups. A large majority of member states were ready to support a compromise text proposed by the presidency (14531/1/14 REV 1). All expressed their commitment to work constructively towards an agreement at the Council meeting on 9 December 2014.
Conclusions of the Agriculture & Fisheries Council meeting.
DG Economic and Financial Affairs published:
Commissioner for Climate Action and Energy Miguel Arias Cañete gave a speech in Brussels: European Union: a Global Leader in Climate Action. He outlined the first concrete steps to implement the 2030 framework.: Some of them:
Commission President Jean-Claude Juncker appeared in person for the EP’s extraordinary debate on the fight against tax avoidance prompted by the recent revelation of secret deals granting preferential tax treatments to multinational companies in Luxembourg. Mr Juncker underlined that the tax rulings in Luxembourg were not illegal even though he admitted that "there probably was a certain amount of tax avoidance in Luxembourg, as in other EU countries. We find this everywhere in Europe because there is insufficient tax harmonisation in Europe", he explained. Press release. Commissioner Moscovici (responsible for Tax) addressed the EP on the ambitious European Commission’s agenda to fight against tax fraud tax evasion and aggressive tax planning. In particular, “in line with the mandate given to me by President Juncker, I will give high priority to advancing the Common Consolidated Corporate Tax Base proposal (CCCTB).This proposal is not a mere technical one. Far from it. The CCCTB could fundamentally change the corporate tax environment in Europe, ensuring a closer link between taxation and economic activity and shutting off major channels of avoidance.“ He also confirmed that the European Commission decided to further enhance tax transparency, including through more information exchange and enhanced transparency on tax rulings.
In a speech entitled An EU industrial policy fit for the 21st century, Internal Market, Industry, Entrepreneurship and SMEs Commissioner Elzbieta Bieñkowska addressed a number of areas where concrete measures are needed, with a focus on the internal market for services, public procurement, intellectual property, and a favourable business environment. The Commissioner also announced that she will launch specific initiatives in the automotive, chemicals, defense, construction and space sectors.
IIn Bratislava, Energy Union Vice-President Maroš Šefcovic delivered a key note speech: Towards a more powerful EU: rebalancing the EU architecture. He said: “The objective is to break down silos and create synergies by steering and coordinating the work of a number of Commissioners in priority areas or projects such as jobs, growth, investment, a deeper and fairer EMU, a connected digital single market or a resilient Energy Union. Strong cooperation will be needed both within each project and also between projects. The major investment package under preparation, for instance, will rely extensively on the completion of the Energy Union. Not only will the focus of this package be notably on energy infrastructures, renewable energy and energy efficiency, but private investments will also need the right incentives through the completion of the single energy market and removal of remaining obstacles.
The European Central Bank published:
Agenda of the European Commission.
The European Commission has published the non-confidential version of the decision taken on 11 June 2014 to open an in-depth investigation into transfer pricing arrangements on corporate taxation of Starbucks in The Netherlands. The decision is available under the case number SA.38374 on the competition website.