EU leaders agree on recovery package and the 2021-2027 budget
After four long days and nights of negotiations, the special European Council of 17-21 July concludes with a historic step: the decision for a joint and innovative effort at EU level in order to support the recovery and resilience of the member states' economies. To achieve the desired result and be sustainable, the recovery effort should be linked to the traditional MFF, which has shaped EU budgetary policies since 1988 and offers a long-term perspective. EU leaders have agreed to a comprehensive package of €1 824.3 billion which combines the Multiannual Financial Framework (MFF) and an extraordinary recovery effort under the Next Generation EU (NGEU) instrument. It is noteworthy to mention that, under the agreement, the Commission will be able to borrow up to €750 billion on the markets. These additional funds may be used for grants, back-to-back loans and for expenditure channelled through the MFF programmes. More important steps remain as the proposals are subject to negotiations between the European Parliament and the Council. You can read the full text of conclusions of the special European Council of 17-21 July here.
Spotlight on the EU’s tax policy strategy
Tax policy is one of the most important aspects of any economy. It is one of the state’s major tools of economic policy, especially if that state is part of a monetary union. It reflects the degree of intervention in the economy, the fundamental choices the state has made and the particularities of the economy at a given time. In parallel, it diverts the allocation of scarce resources among different uses, influences investment and growth and is the main source of funding for the supply of public goods, social policy and other core objectives of the public sector.
EU countries are free to choose the tax systems that they prefer and consider most appropriate, provided they comply with EU rules. There is action at EU level only when action by individual Member States cannot provide an effective solution and, in fact, many tax problems simply require better coordination. Within this framework, the Commission’s main objective for tax policy is to address the concerns of individuals and businesses operating within the internal market, by eliminating tax obstacles in all forms of cross-border economic activity. Additional objectives are to combat harmful tax competition and promote greater cooperation between tax administrations in combating fraud and in dealing with the challenge of taxing an increasingly digitalised economy. On 15 July, the Commission proposed an ambitious new tax package to ensure that EU tax policy supports Europe's economic recovery and long-term growth
This summer edition of the newsletter presents key publications on the EU’s tax policy strategy and many others on several interesting topics. We hope that you enjoy them and wish you a nice and safe summer. We will be back with you in September.
|
|
PDF |
|
|
The new taxation trends report has just been released. Discover the latest analysis of Europe-wide trends, as well as a series of country chapters covering the EU Member States, Iceland and Norway before the COVID-19 crisis. |
Available in English |
|
PDF/Paper |
|
Promoting the internal market and economic growth |
Taxation is central to national sovereignty. This is why the power to raise taxes and set tax rates lies with national governments. So what role can the EU play in making taxation fairer, easier and more efficient for governments, companies and citizens? This publication is part of a series that explains what the EU does in different policy areas, why the EU is involved and what the results are. |
Available in all the official languages of the EU |
 |
PDF |
|
|
Global offshore wealth was estimated at USD 7.8 trillion in 2016 (EUR 7.5 trillion) or 10.4% of global GDP, a considerable amount. This and other interesting facts can be found in this study which provides estimates of offshore wealth held by individuals (for the world’s main economies) and corresponding estimates of international tax evasion (for the EU and EU Member States). |
Available in English |
More on this topic |
 |
PDF |
|
2020 survey |
This survey examines how Member States’ tax systems perform in terms of fighting tax abuse, promoting sustainable investment, supporting employment and mitigating inequalities. To this end, the report presents the main indicators used by the European Commission to analyse tax policies in the context of the European semester and substantiates the tax policy priorities of the Commission’s annual sustainable growth strategy. It also includes an overview of recent tax reforms at both EU and Member State level. |
Available in English |
|
PDF |
|
Challenges and remedies - Study |
This paper discusses the tax challenges posed by digitalisation, especially those related to new business models and the value creation process. It analyses the impact of base erosion and profit shifting actions, unilateral measures and recent tax developments in the European Union and the United States. It also evaluates alternative approaches to reform the international tax system, and highlights difficulties and opportunities presented by blockchain and collaborative economy for international taxation. |
Available in English |
|
PDF |
|
In tax systems, less is often more! |
This factsheet presents the European Economic and Social Committee’s opinion on what criteria an effective EU tax strategy should satisfy and what it should achieve. |
Available in English and French |
Research and innovation |
|
PDF/paper |
|
Europe has always supported robust virology research. This is already helping in the fight against the COVID-19 pandemic, and it will be essential if we want to tackle other current viral challenges and potential new ones in the future. In this results pack, we meet a number of innovative EU-funded projects that are making contributions not only to the battle against SARS-CoV-2 but also to the wider virology field that will improve our overall understanding of viruses, as well as our ability to create even more effective antiviral treatments and vaccines. |
Available in English
(Individual article also available in English, French, German, Italian, Polish and Spanish on the CORDIS website) |
Also out recently |
| PDF |
|
Reflections based on the existing literature and recent international datasets |
In order to reduce the spread of COVID-19, most countries around the world decided to temporarily close educational institutions. However, learning has not stopped, but is now fully taking place online as schools and universities provide remote schooling. Using existing literature and evidence from recent international data, this report attempts to gain a better understanding of how the COVID-19 crisis may affect students’ learning.
|
Available in English |
| PDF |
|
A success story written by the EESC |
This collection brings together all the opinions and reports which, over the last 30 years, have enabled the European Economic and Social Committee (EESC) and civil society organisations to strengthen participatory democracy and become an indispensable part of the European decision-making process. |
Available in English and French |
| PDF |
|
Deforestation, biodiversity and cooperation with the EU and international forums - Study |
For the largest tropical rainforest on Earth, an aggravated forest fire and deforestation regime in Amazonia put at risk the world’s richest biodiversity assets and a major climate regulator. For the EU, it highlights the need to associate the question of embodied deforestation consumption by placing deforestation-free supply chains at the centre of negotiations surrounding the EU-Mercosur association agreement, given the volume of trade between these economic blocs in meat, leather, soy, coffee, rubber, wood pulp, biofuel and timber. |
Available in English |
You may also like |
| PDF |
|
Being black in the EU |
The recent murder of George Floyd, a black American man, in Minneapolis, Minnesota caused unrest and anti-racist protests that quickly spread worldwide. But how is the situation in the EU for black people? Almost 20 years after the adoption of EU laws forbidding discrimination, people of African descent in the EU face widespread and entrenched prejudice and exclusion as this report, based on the second large-scale EU-wide survey on migrants and minorities, finds out. |
Available in English |
|
PDF |
|
|
For many people in the EU, holidays revolve around bathing water – whether it is snorkelling in the turquoise waters of the Aegean Sea or swimming in a Scandinavian lake. This latest edition of the bathing water quality report based on sampling from last year, gives an indication of the places where the quality of bathing water is expected to be good for the 2020 bathing season. |
Available in English, French and German |
| PDF/Paper |
|
|
A chaotic ride on Fred the donkey leads Justin to meet Agatha, an old lady with green fingers, who is desperately trying to save her family home from the grasp of property developers. Justin’s adventures in this comic help him discover how modern farming can produce high-quality food, while also contributing to the European economy and preserving the environment. So, will Agatha make it? Read and find out. |
Available in all the official languages of the EU except Irish |
Our news |
What's in the EU Publications Office for you?
Watch this amusing short video to get an idea of the large array of our services for you.
|
|
|
