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Europe Daily Bulletin No. 13203

17 June 2023
Contents Publication in full By article 4 / 33
ECONOMY - FINANCE - BUSINESS / Taxation
European ministers disagree on details of VAT initiative for digital age
Luxembourg, 16/06/2023 (Agence Europe)

At the Ecofin Council on Friday 16 June, European finance ministers discussed the initiative on value added tax (VAT) in the digital age. There is consensus on the text in principle, but certain details, such as the implementation date and the deemed supplier mechanism, are open to debate. 

As the European Commissioner for Economic Affairs, Paolo Gentiloni, pointed out, this proposal has the “double objective of both combating VAT fraud and reducing administrative burden” (see EUROPE...

Contents

SECURITY - DEFENCE
NATO: Allies continue to deepen support for Ukraine
ECONOMY - FINANCE - BUSINESS
ECONOMY: reform of Stability Pact, Paris and Berlin stick to their guns
ECONOMY: faced with uncertainties over growth and inflation, IMF calls for tighter fiscal policy in euro area
TAXATION: European ministers disagree on details of VAT initiative for digital age
ECB: European Commission due to unveil proposal for non-programmable and regulated digital euro
FINANCE: EU Council ready to begin negotiations with Parliament on legislation on listing of companies on stock exchange
ESM: continuing deadlock over ratification of reform of euro area’s permanent rescue fund
SECTORAL POLICIES
ENERGY: European energy ministers will attempt to reach a political agreement on proposed reform of electricity market on 19 June
ENERGY: European Commission proposes new rules for energy labelling of phones and tablets
BIODIVERSITY: EU ‘nature restoration’ regulation, draft political agreement to be debated by European ministers on 20 June
ENVIRONMENT/CLIMATE: nature restoration, ambient air quality and CO2 from heavy goods vehicles on agenda of EU Environment Council on 20 June
CLIMATE: at Bonn Conference, European delegation had hoped for “broader understanding of purpose of global stocktake”
CLIMATE: EU must reduce its emissions by 90-95% by 2040, according to European Scientific Advisory Board
AGRICULTURE: European Commission plans legislation favourable to development of new genomic techniques
FISHERIES: final compromise text on reform of fisheries control soon to be ratified by EU Council and European Parliament
FISHERIES: NGOs welcome new Energy Transition Partnership in EU fisheries sector
MIGRATION: EU Council begins work on ‘crisis and force majeure’ regulation
HOME AFFAIRS: drugs are increasingly diverse and available in EU, worries European Monitoring Centre for Drugs and Drug Addiction
COMPETITIVENESS: critical raw materials act, Swedish Presidency of EU Council proposes a new compromise with a view to reaching a political position by end of June
JUSTICE: according to latest evaluation report on joint investigation teams, Eurojust has supported 498 of them between 2019 and 2022
EXTERNAL ACTION
MEXICO: Ursula von der Leyen and Andrés Manuel López Obrador want to finalise modernisation of EU/Mexico global agreement before end of year
WTO: one year after 12th Ministerial Conference, review of work at World Trade Organization
RUSSIA: European Parliament calls for proceedings against two Ukrainian minors to be dropped
SUDAN: European Parliament strongly condemns continuing violence between armed factions in defiance of humanitarian law
NEWS BRIEFS
ANGOLA: European Commission proposes that EU Council officially sign Sustainable Investment Facilitation Agreement with Luanda
COMPETITION: green light from European Commission for acquisition by CACEIS of RBC IS Bank, RBC Channel Islands and part of assets of RBC Investor Services Trust
ECONOMY: euro area inflation confirmed as 6.1% in May
ECONOMY: EU Council approves country-specific socio-economic policy recommendations
ENERGY: Member States’ ambassadors to EU confirm agreement on Renewable Energy Directive
ENVIRONMENT: new public consultation to evaluate effectiveness of EU’s ‘electrical and electronic waste’ directive
EUROGROUP: group of Twenty adopts work programme until March 2024
TAXATION: European Commission to present new withholding tax procedures
TRANSPORT: EU Council adopts agreement with European Parliament on sustainable aviation fuels