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Economic and monetary affairs

 

At its constitutive meeting in Brussels on Tuesday, Parliament’s Committee of Inquiry into Money Laundering, Tax Avoidance and Tax Evasion (PANA) elected Werner Langen (EPP, DE) as its chair, by acclamation. (Read more: Werner Langen elected Panama Papers Inquiry Committee chair )

 

MEPs and Euro group ministers debate path to a Euro zone budget

ECON BUDG Budget / Euro11-07-2016 - 15:11

Members of Parliament’s Budgets and Economic and Monetary Affairs committees debated the need for a euro area budget with finance ministers Jeroen Dijsselbloem (Netherlands, also Euro Group President), Michel Sapin (France), Pier Carlo Padoan (Italy), Pierre Gramegna (Luxembourg), Peter Kažimír (Slovakia), Edward Scicluna (Malta) and Euclid Tsakalotos (Greece) on Monday evening. (Read more: MEPs and Euro group ministers debate path to a Euro zone budget )

 

Dombrovskis in a position to assume Financial Stability, Capital Markets Union

ECON Economic and monetary affairs07-07-2016 - 14:23

Following a hearing at the Committee on Economic and Monetary Affairs (ECON Committee), a large majority of ECON Coordinators were satisfied that Vice-President Dombrovskis is in a position to assume the portfolio that is transferred to him and look forward to a strong leadership in a key file for the stability of the EU and the prosperity of EU citizens. (Read more: Dombrovskis in a position to assume Financial Stability, Capital Markets Union )

 

MEPs call for tax haven blacklist, patent box rules, CCCTB and more

Plenary Session Taxation06-07-2016 - 13:57

Parliament’s recommendations for making corporate taxation fairer and clearer were voted on Wednesday. MEPs call for an EU register of beneficial owners of companies, a tax havens blacklist, sanctions against non-cooperative tax jurisdictions, action against abuse of “patent box” regimes, a code of conduct for banks and tax advisors, tax good governance rules in EU trade agreements, a common consolidated corporate tax base (CCCTB) and a withholding tax on profits leaving the EU. (Read more: MEPs call for tax haven blacklist, patent box rules, CCCTB and more )

 

Whistle-blowers: providing a valuable public service

Plenary Session Economic and monetary affairs06-07-2016 - 09:50
Whistle-blowers: protecting a valuable public service ©AP Images/ European Union-EP  

MEPs debated on Wednesday 6 July the best way to protect whistle-blowers. Although whistle-blowers provide an important service to society, it's not without risk as they often face prosecution. On 29 June Antoine Deltour was convicted of theft for having leaked details of controversial tax deals with multinationals in Luxembourg. However, revelations by people like him have allowed Parliament to set up inquiry committees to look into LuxLeaks and the Panama papers. (Read more: Whistle-blowers: providing a valuable public service )

 

Taxing vocabulary: a glossary of fiscal terms

Plenary Session Taxation05-07-2016 - 10:49
Tax glossary  

Paying taxes can be complicated, but so can the vocabulary that goes with it. Tax avoidance is legal, but tax evasion isn't and just what exactly is base erosion? As MEPs have adopted the recommendations from the Parliament's second special committee on tax rulings during the July plenary , we take a closer look at the jargon. (Read more: Taxing vocabulary: a glossary of fiscal terms )

 

Ending EU citizens' bank secrecy in Monaco

Plenary Session Taxation23-06-2016 - 12:18

An EU deal with Monaco, which will make it harder for EU citizens to hide cash from the tax man in bank accounts there, was endorsed by Parliament in a vote on Thursday. Under the deal, the EU and Monaco will automatically exchange information on the bank accounts of each other's residents, starting in 2018 for information collected since 1 January 2017. (Read more: Ending EU citizens' bank secrecy in Monaco )

 

Parliament names “Panama Papers” inquiry committee members

Plenary Session Taxation23-06-2016 - 12:11

The European Parliament named the 65 members of its “Panama Papers” Committee of Inquiry, into tax evasion and money laundering, on Thursday, after approving its remit on 8 June. The committee’s shorthand label will be “PANA”. (Read more: Parliament names “Panama Papers” inquiry committee members )

 

Recommendations to make corporate taxation fairer and clearer were voted by the Special Committee on Tax Rulings II on Tuesday evening. They call for an EU public register of beneficial owners of companies, a tax havens blacklist, sanctions against non-cooperative tax jurisdictions, action against abuse of “patent box” regimes, a code of conduct for banks and tax advisors, tax good governance rules in all EU trade agreements and a withholding tax on profits leaving the EU. (Read more: MEPs call for tax haven black list, patent box rules, CCCTB and more )

 

ECB ready for contingencies following UK referendum, Mario Draghi tells MEPs

ECON Economic and monetary affairs21-06-2016 - 19:05

The European Central Bank is ready for all contingencies following the UK’s EU referendum, said ECB President Mario Draghi in his second monetary dialogue this year with the Economic and Monetary Affairs Committee on Tuesday. Mr Draghi declined to speculate on a possible outcome of the vote, but admitted that "it is difficult to foresee the various dimensions of the vote on the markets and the euro area economies.” (Read more: ECB ready for contingencies following UK referendum, Mario Draghi tells MEPs )