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Europe Daily Bulletin No. 12485

13 May 2020
Contents Publication in full By article 22 / 31
ECONOMY - FINANCE - BUSINESS / Money laundering
EBA publishes its preliminary conclusions on ‘Cum-Ex’ tax optimisation practices
Brussels, 12/05/2020 (Agence Europe)

The European Banking Authority (EBA) published on Tuesday 12 May its preliminary conclusions on tax optimisation practices revealed by the ‘Cum-Ex Files’ scandal, as requested by the European Parliament in a resolution of 2018 (see EUROPE B12149A3).

‘Cum-Ex’ dividend arbitrage strategies allow, through rapid share transfers, to be reimbursed several times with tax paid only once. In the ‘Cum-Ex Files’ case, European banks were able to evade tax on share dividends in excess of...

Contents

EU RESPONSE TO COVID-19
TOURISM: tourism activity must resume in July if sector is to have any chance of recovering from crisis, says Teodora Marinska
HEALTH: drug shortages, a central issue for future pharmaceutical strategy
HOME AFFAIRS: European Parliament to decide in June regarding return to free movement within Schengen area
STATE AID: go-ahead for €11.5 million Maltese scheme to support investments in production of coronavirus-related products
CIVIL PROTECTION: EU increases aid to Greece to prevent spread of coronavirus in refugee camps on islands
SECTORAL POLICIES
MIGRATION: what was contained in Commission’s Pact on Migration and Asylum drawn up prior to Covid-19 crisis
MIGRATION: Greens/EFA Group wants future asylum system to put definitive end to country of first entry rule
BIODIVERSITY: Commission's ambitious biodiversity strategy will be presented on 20 May, says Virginijus Sinkevičius
CIRCULAR ECONOMY: Covid-19 pandemic demonstrates need to develop circular economy, according to Virginijus Sinkevičius
ENERGY: European Commission publishes its roadmap for revision of TEN-E network
ENERGY: Commission opens public consultation on its strategy for sectoral integration
COHESION: MEPs agree to significantly increase budget of Just Transition Fund
COHESION: Younous Omarjee questions European Commission on future cohesion policy
JUSTICE: Commission still not satisfied with implementation of Victims' Rights Directive
EXTERNAL ACTION
EASTERN PARTNERSHIP: Council of EU highlights strategic importance of Partnership
LIBYA: EU calls again for an end to fighting
SYRIA: EU clarifies conditions for sending humanitarian aid to deal with Covid-19
UNITED KINGDOM: EPP group in European Parliament questions London’s good faith in completing post-Brexit negotiations
SECURITY - DEFENCE
CSDP: Mr Borrell is hoping for a solution for Operation Irini in next few days
INSTITUTIONAL
PARLIAMENTARY PLENARY: MEPs to vote on revision of draft 2021-2027 MFF and European Recovery Plan
FUTURE OF EU: European Parliament’s GUE/NGL group presents its plan for reform of European project after Covid-19
ECONOMY - FINANCE - BUSINESS
MONEY LAUNDERING: EBA publishes its preliminary conclusions on ‘Cum-Ex’ tax optimisation practices
STATE AID: Commission approves compensation for early closure of a coal-fired power plant in the Netherlands
STATE AID: fearing that competition will be distorted, Spain calls for a European response to airlines’ liquidity needs
NEWS BRIEFS
AGRICULTURE: Commission approves two new geographical indications from Greece and Poland
STATE AID: European Commission approves €18.2 million aid for Saarbrücken airport in Germany
INDUSTRY: business organisations in France, Germany and Italy are calling for a recovery plan of up to 5% of GDP
INTERNAL MARKET: Thierry Breton criticises Bulgarian measures protecting local farmers
SOCIAL: European trade unions fear that SURE instrument will arrive “too late”
CORRIGENDUM
SOCIAL: Portugal, Spain and Italy called for a European minimum income, not a minimum wage
AE_DOC
AE_DOC: The Covid-19 forces the European Parliament to reinvent itself