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Image header Agence Europe
Europe Daily Bulletin No. 12721
Contents Publication in full By article 3 / 37
ECONOMY - FINANCE - BUSINESS / Taxation

European Commission outlines its future ‘BEFIT’ proposal, closely linked to OECD negotiations

On Tuesday 18 May,the European Commission unveiled its plans to put in place “a company tax system fit for the 21st century”. Its flagship measure: withdraw its proposal for a common consolidated corporate tax base (CCCTB) and replace it with a brand new proposal entitled ‘Business in Europe Framework for Income Taxation’ (BEFIT), to be presented in 2023 (see EUROPE B12720A15).

“It will create a common rulebook for groups of companies operating across the single market; reduce...

Contents

EXTERNAL ACTION
NEAR EAST: European Foreign Ministers unable to reach a unanimous position
AFRICA: EU promises to support small businesses at Paris summit on financing African economies
ECONOMY - FINANCE - BUSINESS
TAXATION: European Commission outlines its future ‘BEFIT’ proposal, closely linked to OECD negotiations
TAXATION: European Commission encourages Member States to allow loss-carry back for businesses
EUROPEAN PARLIAMENT PLENARY
Interview TURKEY: positive agenda must be linked to democratic conditionality, warns Nacho Sánchez Amor
MONTENEGRO: European Parliament to advocate speeding up EU accession process
MIGRATION: European Parliament calls on EU Council to make progress on ‘Pact on Migration and Asylum’ and to pursue a genuine rescue at sea policy
DEVELOPMENT: European Parliament calls for a comprehensive EU strategy to limit impact of climate change on poor countries
ENERGY: European Parliament about to adopt its position on hydrogen and energy system integration
COHESION: Just Transition Fund - European Parliament approves Interinstitutional Agreement but regrets low budget allocation
COHESION: European Parliament calls on European Commission to improve functioning of EU Solidarity Fund
FISHERIES: European Commission refuses to adjust rules on landing obligation at this stage
ECONOMY: MEPs want to exercise their democratic control over funds allocated to European Recovery Plan
DIGITAL: European Parliament calls for legislative initiative to combat online piracy of sports events
TRANSPORT: European Parliament approves conclusion of EU-US Agreement with Respect to Time Limitations on Arrangements for Provision of Aircraft with Crew
FINANCE: European Parliament gives green light to appointment of Natasha Cazenave as ESMA Executive Director
INSURANCE: European Parliament approves Petra Hielkema’s appointment as head of EIOPA
TAXATION: European Parliament supports VAT exemption for essential goods and services distributed by EU in times of crisis
EU RESPONSE TO COVID-19
COHESION: Elisa Ferreira insists on territorial dimension of national recovery plans
TRADE: G20 expected to vote against patent waiver for Covid-19 vaccines
CULTURE
CULTURE: creation of a European agency for protection of cultural heritage does not appeal to EU Member States
SECTORAL POLICIES
MIGRATION: European Parliament and EU Council agree on revision of Blue Card Directive to attract highly skilled migrants
AGRICULTURE: Member States prepare for final negotiations with European Parliament over reformed CAP
FISHERIES: EU regulation on deep-sea fishing has not had all the expected effects
RESEARCH: European Commission advocates open international cooperation, but subject to a level playing field
ENERGY: Member States surveyed for review of EU energy efficiency rules
ENERGY: IEA calls for halt to investment in all new fossil fuel projects
TRANSPORT: signing of Vienna Declaration on clean, safe, and healthy transport
INSTITUTIONAL
EUROPEAN COMMISSION: European Ombudsman launches inquiry into revolving doors in EU institution
COURT OF JUSTICE OF THE EU
RULE OF LAW: EU Court of Justice rules on reforms to Romania’s judicial system
NEWS BRIEFS
TRADE: France seeks mirror clauses for EU trade agreements
CYBERSECURITY: EU prolongs sanctions framework against cyber-attacks for one year
FUNDAMENTAL RIGHTS: fourteen Member States commit to act to ensure better protection of LGBTIQ persons in EU
ECB: German Constitutional Court rejects complaint against ‘quantitative easing’
ENERGY: Portuguese Presidency finalises draft EU Council conclusions on ‘renovation wave’ strategy
INDUSTRY: industrial strategy, construction sector wants to start working with European Commission to achieve objectives of transition
RUSSIA: no decision expected from European Council