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Europe Daily Bulletin No. 13442

29 June 2024
Contents Publication in full By article 19 / 26
ECONOMY - FINANCE - BUSINESS / Taxation
Wealth tax generates too many costs in relation to revenue it generates, according to Tax Foundation Europe
Brussels, 28/06/2024 (Agence Europe)

Wealth taxes generate little revenue, entail high administrative costs and lead to an exodus of wealthy individuals and their money, according to a study by the business-oriented think-tank Tax Foundation Europe, published on Wednesday 26 June.

On Tuesday 25 June, economist Gabriel Zucman presented a proposal for an internationally coordinated standard guaranteeing effective taxation of the very wealthy (see EUROPE B13440A19), but the Tax Foundation recommends a different approach. 

“At...

Contents

Russian invasion of Ukraine
ECONOMY: European Commission to disburse pre-financing of €1.9 billion to Ukraine
RUSSIA: EU sanctions two individuals and four entities for circumventing its sanctions and providing Russian government with material support
EXTERNAL ACTION
TERRORISM: EU imposes sanctions on six individuals and three entities linked to Hamas and Palestinian Islamic Jihad
TRADE: trade agreements can have positive placebo effect on trade, according to ECIPE report
SECTORAL POLICIES
HEALTH: European Union authorises “lxchiq” vaccine against Chikungunya virus
DIGITAL: Shein and Temu ordered by European Commission to provide information on their compliance with DSA
AGRICULTURE: Ukraine’s accession to EU would help to rethink Common Agricultural Policy, according to IDDRI institute
ENERGY: European Commission opens a call for evidence to update ecodesign rules for heating and cooling products
ENERGY: electricity prices to fall by a third by 2040 thanks to development of renewables and flexibility, according to SolarPowerEU
CLIMATE: Bruegel calls on European Union to adopt a new green diplomacy strategy
INSTITUTIONAL
EUROPEAN PARLIAMENT: 4 July deadline set for forming European Parliament political groups
EP2024: Poland’s Law and Justice party plans to create Central Eastern European group, according to Mateusz Morawiecki
FUTURE OF EU: climate and environment campaigners disappointed by European Council’s 2024-2029 strategic agenda
HUNGARIAN PRESIDENCY OF THE COUNCIL OF THE EUROPEAN UNION
DEFENCE: Hungarian Presidency of EU Council wants to strengthen European defence policy
WESTERN BALKANS : Hungarian Presidency of EU Council wants enlargement policy “based on merit”
ENVIRONMENT: Hungarian Presidency intends to follow path set by EU in environmental protection and climate transition
EYCS: Hungarian Presidency of EU Council commits to rural inclusion, enhancement of national and European heritage and healthy lifestyles
ECONOMY - FINANCE - BUSINESS
MONEY LAUNDERING: FATF removes Jamaica and Turkey from list of high-risk jurisdictions, but adds Monaco and Venezuela
TAXATION: wealth tax generates too many costs in relation to revenue it generates, according to Tax Foundation Europe
SOCIAL AFFAIRS - EMPLOYMENT
SOCIAL : French social security institutions call on future co-legislators to make revision of Regulation 883/2004 a top priority
COUNCIL OF EUROPE
SOCIAL: Social Rights Committee publishes its 2023 report ahead of major conference to be held in Vilnius on 4 July
NEWS BRIEFS
ENERGY: in 2023, renewable energies will be in lead, accounting for 44.7% of EU's electricity production
GEORGIA : actions of Georgian authorities lead to a de facto halt in accession process, warns European Council
MEDIA: SLAPP procedures, arrests, lack of independence... University Institute of Florence publishes its report on media pluralism
FISHERIES: ‘Comité national des pêches maritimes et des élevages marins’ calls on EU to “radically change its approach”
TRANSPORT: EU and ICAO strengthen their commitment to safety, security and sustainability of global aviation