Search

Indirect taxes include value added tax (VAT) and excise duties on alcohol, tobacco and energy. The common VAT system is generally applicable to goods and services that are bought and sold for use or consumption in the EU. Excise duties are levied on the sale or use of specific products. EU legislative activities are aimed at coordinating and harmonising VAT law and harmonising duties on alcohol, tobacco and energy with the aim of ensuring the proper functioning of the internal market.

The field of direct taxation is not directly governed by European Union rules. Nevertheless, a number of directives and the case law of the Court of Justice of the European Union (CJEU) establish harmonised standards for taxation of companies and private individuals. Moreover, actions have been taken to prevent tax evasion and double taxation.

Taxation is a prerogative of the Member States, the EU having only limited competences. As EU tax policy is geared towards the smooth running of the single market, the harmonisation of indirect taxation was addressed before direct taxation. A fight against harmful tax evasion and tax avoidance has followed. EU tax legislation must be adopted unanimously by the Member States. The European Parliament has the right to be consulted on tax matters; for budgetary-related issues it is even co-legislator ...

The institutions of the Economic and Monetary Union (EMU) are largely responsible for establishing European monetary policy, rules governing the issuing of the euro and price stability within the EU. These institutions are: the European Central Bank (ECB), the European System of Central Banks (ESCB), the Economic and Financial Committee, the Eurogroup and the Economic and Financial Affairs Council (Ecofin).

The European Parliament, the Council and the European Commission have committed to listen to Europeans and to follow up, within their sphere of competences, on the recommendations made. In this framework, four European Citizens’ Panels have been organized to allow citizens to jointly think about the future they want for the European Union • Panel 1 - "Stronger economy, social justice, jobs, education, culture, sport, digital transformation" • Panel 2 - "EU democracy, values, rights, rule of law ...

Executive Vice-President Dombrovskis and Commissioners Schmit and Gentiloni have been invited to an Economic Dialogue on the launch of the 2022 European Semester, in line with the relevant EU law. This briefing note covers the main elements of the 2022 European Semester Package proposed by the Commission. It gives also an overview of the implementation of the Recovery and Resilience Facility, the Stability and the Growth Pact, the Macro-economic Imbalances Procedure, the Joint Employment Guidelines ...

Bruno Le Maire, Minister of the Economy, Finance and the Recovery of France, is participating in the ECON Committee in his capacity of President of the ECOFIN Council during the French Presidency (January-June 2022). In accordance with the Treaty of the Union, “Member States shall regard their economic policies as a matter of common concern and shall coordinate them within the Council”. This briefing provides an overview of the French presidency priorities in ECON matters, including the Council ...

BUDG-ECON Committee meeting on 13 December 2021 Executive Vice-President Dombrovskis and Commissioner Gentiloni have been invited to the fourth Recovery and Resilience Dialogue under the Recovery and Resilience Facility Regulation. This briefing first provides an overview of the Recovery and Resilience Plans, presenting observations and figures based on publicly available information. Further sections deal with the pending assessment of some Recovery and Resilience Plans; the implementation of ...

This document provides an overview of key developments under the preventive and corrective arms of the Stability and Growth Pact on the basis of the latest Commission and Council decisions and recommendations in the framework of the Stability and Growth Pact and the latest European Commission economic forecasts. This document is regularly updated.

This document compares key figures included in the 2022 Draft Budgetary Plans (DBPs), as submitted to the European Commission (EC) by the Euro Area Member States by mid of October 2021, with those of the autumn 2021 forecasts by the EC and the key figures included in the 2021 Stability Programmes (SPs), as submitted by the Euro Area Member States by end of April 2021, with the those of the 2021 spring forecasts by the EC. The EC is expected to adopt its opinions on the 2022 DBPs by end of November ...