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Image header Agence Europe
Europe Daily Bulletin No. 13442
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

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