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Image header Agence Europe
Europe Daily Bulletin No. 13155
Contents Publication in full By article 15 / 32
ECONOMY - FINANCE - BUSINESS / Taxation

Solidarity contribution could distort investment, says European Parliament study

Investment distortions could occur as a result of the solidarity contribution, according to a study by the European Parliament’s subcommittee on tax matters published on Wednesday 29 March.

Implemented in autumn 2022 (see EUROPE B13074A35), the temporary compulsory solidarity contribution will tax profits above a 20% increase in average annual taxable profits since 2018. Targeting companies in the crude oil, fossil gas, coal and refining sectors, it is similar to a windfall tax. 

Contents

SECTORAL POLICIES
INTERNAL MARKET: Swedish Presidency of EU Council suggests restricting scope of future Single Market Emergency Instrument
CIRCULAR ECONOMY: Ecodesign/Sustainable Products Regulation, competitiveness as a compass and Swedish Presidency of EU Council’s attempt at a compromise
ENERGY: security of supply and accelerating energy transition as priorities of EU-US Energy Council
ENERGY: 2022 saw significant changes in crude oil imports and prices, according to Eurostat
DIGITAL: ‘AI Act’, MEPs fine-tune their position ahead of a vote in European Parliament committees on 26 April
HOME AFFAIRS: Schengen Borders Code reform vote in European Parliament Committee on Civil Liberties now expected on 26 April
HEALTH: fees to European Medicines Agency have been adjusted for inflation
AGRICULTURE: rising imports of Ukrainian agricultural products continue to worry five EU countries
FISHERIES: French fishermen obtain from European Commission maintenance of bottom fishing in marine protected areas
TRANSPORT: end of combustion engines in 2035, European Commission is not ready to open door to biofuels, despite Italy’s expectations
CLIMATE: European Commission consults on a 2040 climate target
RESEARCH: European Commission increases funding for innovation in civil security and renewable energy
SECURITY - DEFENCE
NATO: Finland’s membership of Alliance, Ukraine, defence investments and China on agenda of foreign ministers meeting
ECONOMY - FINANCE - BUSINESS
TAXATION: Rasmus Andresen wants to extend scope of Directive on Administrative Cooperation
TAXATION: solidarity contribution could distort investment, says European Parliament study
FINANCE/ENERGY: ‘anti-volatility’ mechanism linked to gas price cap will apply from 1 May
COMPETITION: European Commission opens in-depth investigation into proposed joint venture between Orange and MasMovil
STATE AID: €450 million Italian aid scheme to support renewable hydrogen production gets green light
EDUCATION - CULTURE
EDUCATION: towards a strengthening of EU Youth Dialogues?
CULTURE: Member States devise future measures to assist cultural sector faced with rising energy prices
INSTITUTIONAL
EP2024: European Greens renew their support for Spitzenkandidaten process
NEWS BRIEFS
HUMANITARIAN AID: EU mobilises €9 million in emergency aid for vulnerable Burundians
STATE AID: European Commission approves €25 million Greek aid for apple and chestnut sectors
STATE AID: €30 million Italian aid scheme approved for bus companies in context of war in Ukraine
COHESION: Cohesion Fund celebrates 30th anniversary
TRADE: next meeting of EU-US Trade and Technology Council will be held on 30-31 May
EDUCATION: a new Erasmus+ project to combat antisemitism in Europe through education
ENERGY: CAN Europe presents recommendations to end fossil fuel subsidies
ENERGY: several environmental NGOs deplore targets of Renewable Energy Directive which put “protection of forests and biodiversity under pressure”
CSDP: Valentino Rinaldi, new EU Force Commander for EUNAVFOR MED IRINI
RESEARCH: forty-four high-risk, cutting-edge research projects will receive €167 million in EU funding
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