Tax revenues rose in 19 Member States in 2016 as percentage of GDP in 2016, a study published on 13th June 13th 2018 by the European Commission has found. However, the level of taxation in EU Member States differs greatly.
Tag - European Commission
Further to a previous bulletin we can bring you news that the European Council has removed the Bahamas and Saint Kitts and Nevis from the EU's list of non-cooperative tax jurisdictions.
According to a document released on 23rd April 2018, the European Parliament's Committee on Economic and Monetary Affairs has requested a number of changes to the EU Commission's proposals for enhanced administrative cooperation in VAT matters.
The European Commission has sent formal letters to the governments of Bulgaria and Germany requesting that they amend aspects of their VAT regimes.
On March 13th 2018, the Council reached agreement on a proposal aimed at boosting transparency in order to tackle aggressive cross-border tax planning. The draft directive is the latest of a number of measures designed to prevent corporate tax avoidance.
Further to a previous bulletin we can bring you news that on March 13th 2018 the EU's list of non-cooperative jurisdictions in taxation matters has been adjusted. This is in response of commitments made by listed jurisdiction and an assessment of jurisdictions for which no listing decision had yet been taken.
The European Commission is hoping to present by the end of March its plan for overhauling tax rules for internet giants, aimed at making them pay up in the countries where they earn their profits, a top official said earlier this week.
The 18th January 2018 saw the European Commission propose new rules to give Member States more flexibility to set VAT rates and to create a better tax environment to help SMEs growth.
The European Commission aim to put new measure in place in an attempt to crack-down on VAT fraud, estimated to cost EU member states €50 billion in lost revenue annually. New tools will ensure that the EU VAT system is resistant to fraud by closing legal loopholes currently manipulated by tax avoidance schemes and criminals alike.
Pressure is on the EU to ‘rapidly adopt a European tax haven list’ which is also ‘credible'. This follows in the wake of media revelations of widespread tax avoidance schemes by the wealthy elite.
Speaking at a Eurozone meeting in Brussels last Monday, Pierre Moscovici, the EU finance commissioner, told reporters "There is no point in just having one country on the black list tax havens" .
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