Stories that are tagged 'European Commission'

	EP Demands Accurate Information On Tax Evasion 5/16/2012 The European Parliament has recently passed a resolution calling for accurate information on customs duty and value-added tax evasion in member states, to protect the European Union’s financial interests and to prevent misuse of its funds.
	MEPs Agree Deal On Mobile Roaming Price Caps 5/14/2012 Data roaming and phone calls abroad for European Union consumers should be much cheaper from July 1 this year, due to an agreement with the European Council which has been endorsed by the European Parliament.
	Spain Told To Recover Film Industry State Aid 5/14/2012 The European Commission has concluded following an investigation that the subsidization of Ciudad de la Luz film studio complex by the Valencia Regional Government in Spain contravened European law, as a grant worth EUR265m (USD343m) was not provided on market conditions.
	EU Fails To Unite On Basel III 5/10/2012 Despite a marathon round of intense negotiations in Brussels, led by the Danish Presidency of the European Union, EU Economic and Financial Affairs Council ministers failed to agree a common approach on the issue of more stringent capital standards.
	UK Peers Warn Over Transaction Tax Implications 5/9/2012 The UK’s House of Lords has once again attacked plans by the European Commission for a Europe-wide financial transaction tax, warning that if introduced, the UK could account for 71% of the revenue it would raise.
	EU, US Agree Common List Of 'Trusted Traders' 5/9/2012 The United States and the European Union have agreed to recognize one another's list of 'certified trusted traders', exposing these companies to faster, and less burdensome customs clearance procedures, to cut costs and introduce a more stable environment for cross-Atlantic trade.
	Spain Told To Amend Excise Duty Regime 5/4/2012 The European Commission has formally requested Spain to modify its rules on excise duties to bring them into line with European Union legislation.
	ASEAN, EU Confirm Importance Of FTA Talks 5/2/2012 When the foreign ministers of the Association of Southeast Asian Nations and European Union held a meeting in Brunei on April 27, emphasis was laid on the on-going negotiation of free trade agreements between the two regions.
	Ireland Completes Latest Bailout Review 5/1/2012 Ireland has achieved all the targets set under its bailout agreement, the European Commission, European Central Bank and International Monetary Fund have said in their latest quarterly review, news welcomed by the Irish government.
	UK, EU Talk 'Shadow Banking' Regulation 5/1/2012 At a conference on ‘shadow banking’ in Brussels, both Michel Barnier, European Commissioner for Internal Market and Services, and Paul Tucker, the Bank of England’s Deputy Governor for Financial Stability, have outlined their views on policies for its better regulation.
	Finland Adopts Stability Programmes 4/27/2012 The Finish government has recently announced that it has approved both the Stability and Europe 2020 National Programmes, designed to track medium-term economic development, and to enable the country to meet its European fiscal targets.
	EU Data Watchdog Confirms ACTA Privacy Concerns 4/26/2012 The European Data Protection Supervisor has issued a further Opinion, deciding that the Anti-Counterfeiting Trade Agreement may have unacceptable side effects on the fundamental rights of individuals, if its measures are not implemented properly.
	New Taxes In Hungary's Euro Plan 4/26/2012 The Hungarian government has recently adopted the second part of its ‘Szell Kalman’ plan, forming part of the country’s euro convergence programme and containing new tax measures to help shore up its revenue base.
	Netherlands Intensifies Efforts To Combat VAT Fraud 4/24/2012 Dutch State Secretary for Finance Frans Weekers has recently unveiled details of plans to give a new boost to the international fight against value-added tax fraud.
	Spain Defends 2012 Austerity Measures 4/23/2012 During a recent address to congress to present and explain the government’s 2012 budget, Spain’s Secretary of State for Finance Miguel Ferre underscored that the tax measures provided for in the budget plans will enable the country to achieve its fiscal consolidation targets.
	EU Tax Issue With Guernsey's Tax Regime 4/23/2012 Guernsey's zero-ten corporate tax regime has been confirmed as 'harmful' by the European Union's Code of Conduct Group on Business Taxation. The Code Group had previously ruled similarly in relation to the zero-10 regimes of both Jersey and the Isle of Man.
	EU Consults On Rules For Wirelessly Connected Devices 4/13/2012 The European Commission has launched a public consultation to ensure that the rights of individuals are respected in the so-called "Internet of Things", where everyday objects, such as phones and cars, are wirelessly connected to the internet through smart chips, and can collect and share data.
	Commission Adopts Report Calling For New EU AML Directive 4/13/2012 In light of the adoption in February this year of revised international anti-money laundering standards by the Financial Action Task Force, and its own review process, a report on the application in the European Union of the Third Anti-Money Laundering Directive has been adopted by the European Commission.
	EU Agrees ECJ Submission On ACTA 4/6/2012 The European Commission has taken the next step in referring the Anti-Counterfeiting Trade Agreement to the European Court of Justice, by agreeing on the legal submission to be put before the Court.
	EU To Investigate Cross-Border Worker Taxation 4/6/2012 Tax provisions of European Union member states are to be scrutinized to ensure that they do not discriminate against cross-border workers, in a targeted initiative launched by the European Commission.
	EU Provides Funding For Caribbean Tax, Regulatory Reforms 4/4/2012 The Caribbean Forum of African Caribbean and Pacific States and the European Commission on March 29, 2012, signed three financial agreements, which will provide Caribbean nations with additional funding to facilitate regional integration, and for reforms to ensure the Caribbean trade bloc can take full advantage of the Economic Partnership Agreement in place with the European Union.
	De Gucht Calls For An EU-ASEAN FTA 4/4/2012 During his speech to the European Union – Association of Southeast Asian Nations Business Summit in Phnom Penh on April 1, Karel De Gucht, the European Commissioner for Trade, stressed that a comprehensive free trade agreement was needed between the two regions.
	Schäuble Eyes EU Tax On Shares 4/4/2012 Given the ongoing staunch opposition from certain countries to the idea of a financial transactions tax in Europe, German Finance Minister Wolfgang Schäbule has put forward an alternative proposal, starting with a tax imposed on the stocks and shares of companies listed on the stock exchange.
	EU Consults On Future Insolvency Law 4/3/2012 The European Commission has launched a public consultation on modernizing European Union rules governing insolvencies, which have applied since May 2002 and set out how bankruptcies – of companies or individuals – should be coordinated between member countries.
	UK House Of Lords Slams FTT Proposals 4/3/2012 European plans for a Financial Transaction Tax place the City of London under severe threat, a group of UK lawmakers has warned.
	EU Deal Reached On Mobile Roaming Price Caps 3/30/2012 Data roaming and phone calls abroad for European Union consumers should be much cheaper form July 1 this year, due to a provisional agreement between the European Parliament and the European Council.
	Juncker Seeks Alternatives To FTT 3/29/2012 During a recent conference in Brussels, Luxembourg’s Prime Minister and Eurogroup President Jean-Claude Juncker expressed his reservations regarding the idea of a tax on financial transactions, advocating instead that an alternative be examined.
	Schäuble Concedes FTT Doomed To Failure 3/28/2012 In a shock announcement just ahead of a crucial euro zone finance ministers’ meeting in Copenhagen, German Finance Minister Wolfgang Schäuble has finally conceded that Franco-German plans for the introduction of a European tax imposed on financial transactions are doomed to failure.
	EU Strengthens IPR Protection Body 3/27/2012 The adoption of a Regulation by the European Parliament and Council is seen to be the first legislative delivery from the strategy of the European Commission towards a single market for intellectual property rights.
	Belgium Told To Revise Taxation Of Property Income 3/26/2012 The European Commission has officially asked Belgium to revise its taxation of property income from sources outside Belgium.
	Sweden Urged To Amend 'Discriminatory' Pensions Taxation 3/26/2012 The European Commission has officially asked Sweden to amend its tax rules on pension funds because they are said to discriminate against non-resident pension funds compared to domestic pension funds when it comes to taxing dividends distributed in Sweden.
	EU To Regulate Public Procurement Market 3/26/2012 The European Commission has proposed a Regulation that should help to open worldwide public procurement markets and ensure European Union businesses have fair access to them, while also aiming to ensure that all firms (both European and non-European) are on an equal footing when competing for business in the European public procurement market.
	Netherlands Seeks 'Alternatives' To FTT 3/26/2012 The Dutch finance ministry has recently confirmed government plans to ask the European Commission to examine the idea of ‘alternatives’ to the introduction of a financial transactions tax in Europe.
	US, EU Issue Joint Statement On Data Privacy 3/22/2012 A joint statement, following a conference in which both European Commission Vice-President Viviane Reding and the United States Commerce Secretary John Bryson participated, confirms the deepening trans-Atlantic dialogue on commercial data privacy issues.
	Semeta Eyes 'Political Compromise' On EU FTT 3/22/2012 During a recent meeting of members of the finance and fiscal committees in the Danish parliament in Copenhagen, European Union Commissioner for Taxation Algirdas Semeta once again underlined the need for a European financial transactions tax (FTT) to partially fund the European budget thereby reducing national contributions, while acknowledging the need for a 'political compromise'.
	EU Consults On State Support For Film Finance 3/21/2012 The European Commission has launched a consultation on the state aid criteria it proposes to use to assess proposals from member states to provide tax relief and other concessions to film financiers.
	Germany Seeks To Iron Out Swiss Tax Deal Issues 3/19/2012 Following recent ‘constructive’ talks with his colleagues from Social Democrat- and Green Party-led federal states, German Finance Minister Wolfgang Schäuble has agreed to hammer out with Switzerland certain changes to the bilateral Swiss-German tax deal, signed in September.
	European Aviation Fears EU ETS Backlash 3/19/2012 In joint letters, the heads of some of Europe's major airlines and aviation engine manufacturers have called upon European Union leaders to take action and stop an escalating trade conflict with China and other countries opposing the European Emissions Trading Scheme.
	Germany Defends VAT Rules For Art 3/14/2012 Germany’s State Minister for Culture Bernd Neumann has recently underlined his grave concerns regarding the European Commission’s request that Germany apply the full rate of value-added tax to the supply of works of art and collectors’ items.
	Eurogroup Backs Second Greek Bailout Deal 3/14/2012 Following months of gruelling negotiations, euro zone finance ministers finally gave their seal of approval to a second EUR130bn (USD170bn) bailout package for Greece, during the latest European Council meeting in Brussels.
	EU Data Protection Rules Still Not Comprehensive, Says Watchdog 3/12/2012 The European Data Protection Supervisor has generally welcomed the proposed package for a reform of the European Union data protection law, but remains concerned that it is 'far from a comprehensive set of rules'.
	European Commission Acts On Securities Settlement 3/8/2012 In an attempt to bring more safety and efficiency to the financial system in Europe, the European Commission has proposed the establishment of a European common regulatory framework for Central Securities Depositories, the institutions responsible for securities settlement.
	Ireland Receives Latest Cash Injection 3/8/2012 The European Commission has given the go-ahead for Ireland's latest bailout payment, concluding that the country's austerity programme is strong and on track.
	Germany 'Modifies' EU-Contested Swiss Tax Deal 3/9/2012 Germany and the European Commission have reportedly resolved their differences over the bilateral German-Swiss withholding tax deal aimed at preventing tax evasion.
	Europe Stands Firm On Emissions Trading Scheme, For Now 3/7/2012 The Vice-President of the European Commission told the Aviation Leadership Summit at the Singapore Airshow that the European Union will stand firm on its decision to impose a tax on airlines' emissions, but said the Union is open to constructive negotiations on multilateral alternatives.
	Portugal's Economic Programme 'On Track' 3/7/2012 Following its third quarterly review of Portugal’s economic programme, the European Commission, the European Central Bank, and the International Monetary Fund underscored that while the programme is indeed on track, many challenges remain.
	Euro 25 Sign Up To Fiscal Compact 3/6/2012 On the margins of the recent European Council meeting in Brussels on March 1 and 2, twenty-five European leaders, with the exception of the UK and the Czech Republic, signed the Treaty on Stability, Coordination and Governance aimed at strengthening fiscal discipline and introducing stricter surveillance within the euro area, in particular by establishing a 'balanced budget rule'.
	Cypriot VAT Hike Takes Effect 3/5/2012 An increase to Cyprus's value-added tax rate came into effect on March 1, 2012, as part of a package adopted in December to speed progress towards European Union fiscal retrenchment targets.
	Juncker Optimistic On Greek Bailout Deal 3/5/2012 While underlining that the second international rescue package for Greece has good chances of succeeding, Luxembourg’s Prime Minister and Eurogroup President Jean-Claude Juncker has not ruled out a third package.
	Germany Upbraided Over Art Tax Break 3/5/2012 The European Commission has officially asked Germany to change its value-added tax rules as regards the application of a reduced rate to the supply of works of art and collectors' items.
	Belgium Urged To Extend Venture Capital Tax Break 3/5/2012 The European Commission has officially asked Belgium to amend its legislation on tax credits for investing in venture capital.
	MEPs Receive Public Petition Against ACTA 3/1/2012 The European Parliament has received a petition, signed by almost 2.5m people worldwide, calling on its members 'to stand for a free and open internet and reject the ratification of the Anti-Counterfeiting Trade Agreement'.
	German Bundestag Backs Greek Package 2/29/2012 The German Bundestag, or lower house of parliament, has recently adopted by a large majority the second rescue package for Greece, designed to grant Athens further financial assistance of a maximum of EUR130bn (USD175bn) until 2014.
	EU Takes A Look At Structural Banking Reforms 2/27/2012 Michel Barnier, the European Commissioner for the Internal Market and Services, has appointed the members of the High-level Expert Group which is to examine structural aspects of the banking sector in the European Union.
	EU Refers ACTA To European Court 2/24/2012 The Commissioner for Trade, Karel De Gucht, has disclosed that the European Commission has agreed with his proposal to refer the Anti-Counterfeiting Trade Agreement to the European Court of Justice.
	EU Adopts 'Think Small First' Regulation Agenda 2/22/2012 At its meeting on February 20-21, the European Council adopted conclusions on a future smart regulation agenda with a strong end-user focus, in that it will seek wherever possible to exempt small businesses from European Union legislation, or to introduce special regimes so as to minimise the regulatory burden on them.
	Austria Launches Talks On Swiss Tax Deal 2/22/2012 Austria’s Finance Minister Maria Fekter has recently announced that talks on a planned bilateral tax agreement with Switzerland are due to begin in April.
	Consultation Launched Into European Company Law 2/22/2012 The European Commission has launched an in-depth consultation on the future of European company law, to ascertain whether Europe’s needs are still met by the existing legal framework.
	FATF Adopts Revised International AML Standards 2/20/2012 The Financial Action Task Force anti-money laundering standards have been revised to strengthen global safeguards and further protect the integrity of the financial system, by providing governments with stronger tools to take action against financial and tax crimes.
	EU Ready To Throw New Cash At Greece 2/15/2012 Olli Rehn, the European Commissioner responsible for Economic and Monetary Affairs, has welcomed the Greek parliament's approval of a new package of austerity measures which, he said, would be 'supported by unparalleled financial assistance from Greece's partners'.
	EU Finalises OTC Derivatives Market Rules 2/14/2012 After a long period of negotiation, a deal on new European legislation to regulate trade in over-the-counter derivatives, and aimed at increasing transparency and reducing risk, has been agreed between the European Parliament and the Council of the European Union.
	Germany Stalls On ACTA 2/14/2012 Following rumblings of discontent against the agreement in other European Union countries, it has been disclosed that the German government will delay its signing of the Anti-Counterfeiting Trade Agreement until the European Parliament has given its approval.
	Hungary's PM Defends Controversial Fiscal Strategy 2/13/2012 Hungary’s Prime Minister Viktor Orban has recently defended the central aspects of his government’s fiscal policy, in particular the special tax imposed on international retail chains, on telecommunications operators, on insurance companies and on banks.
	US To Cooperate With EU Countries On FATCA 2/10/2012 The United States Treasury Department and the Internal Revenue Service have issued proposed regulations for the next major phase of implementing the Foreign Account Tax Compliance Act, which also includes a joint statement with France, Germany, Italy, Spain and the United Kingdom on a possible government-to-government framework for information exchange.
	Dutch Central Bank Deems FTT 'Unworkable' 2/10/2012 The Dutch central bank has recently insisted that the introduction of a European financial transaction tax is ‘undesirable’, and warned that it is indeed doubtful whether it will counteract risky market behaviour.
	Germany's FDP Eyes Saver Tax Relief 2/8/2012 Germany’s ruling Free Democratic Party has recently put forward the idea of raising the savers' tax-free allowance to compensate for a tax imposed on financial transactions.
	FTT Will Hit UK Revenues Even With Opt Out 2/8/2012 David Cameron's refusal to sign a new European Union deal will not shield the UK from the impact of a financial transaction tax, Ernst and Young has said.
	Greece Wavers On Fiscal Reforms 2/7/2012 Greece’s ruling coalition parties have so far failed to reach an agreement on whether or not to accept the painful terms of the second international bailout package, reluctant to implement further austerity measures to secure the EUR130bn (USD170bn) deal.
	EU Blocks Deutsche Börse-NYSE Euronext Merger 2/6/2012 The European Commission has prohibited, on the basis of the European Union Merger Regulation, the proposed merger between Deutsche Börse and NYSE Euronext, as it would have resulted in a quasi-monopoly in the area of European financial derivatives traded globally on exchanges.
	ESMA Outlines New ETF Regulatory Framework 2/3/2012 The European Securities and Markets Authority has published a consultation paper setting out future guidelines on the use by UCITS of exchange-traded funds and other UCITS-related issues.
	Cameron Mocks 'Mad' French FTT Plans 2/3/2012 Signalling perhaps the demise of the Entente Cordiale, British Prime Minister David Cameron has openly and pointedly mocked French President Nicolas Sarkozy’s plans for the introduction of a tax on financial transactions in France.
	UK Referred To ECJ Over Tax Repayment Law 2/2/2012 The European Commission has referred the UK to the European Court of Justice for its abolition of a process allowing for the repayment of taxes which according to EU law have been levied illegitimately.
	European Parliament's ACTA Negotiator Resigns In Protest 2/1/2012 Kader Arif, a member of the Socialist and Democrat alliance within the European Parliament (EP), who was also its rapporteur for the Anti-Counterfeiting Trade Agreement (ACTA), has resigned his role and condemned the process which led to its conclusion.
	FTT 'Simply Madness' Says Cameron 1/31/2012 The mere consideration of a financial transaction tax is 'madness', the UK's Prime Minister has said.
	EC Asks Ireland To Modify Motor Tax 1/30/2012 The European Commission has requested that the Irish government modify its taxation of motor vehicles less than three months old.
	EU Proposes Comprehensive Data Protection Reforms 1/30/2012 European Justice Commissioner Viviane Reding has proposed a comprehensive reform of the European Union 1995 data protection rules to strengthen online privacy rights and boost Europe's digital economy.
	Danish Presidency's Fiscal Priorities Don't Include FTT 1/27/2012 Denmark’s Economic and Interior Affairs Minister Margrethe Vestager recently explained to the European Economic and Monetary Affairs Committee that the key priorities for the Danish Presidency of the European Union Council of Ministers are increasing surveillance of budgetary policies, and the economic and fiscal surveillance of eurozone member states facing serious financial instability.
	European Commission Prepares New IP Directive 1/26/2012 European Commissioner Michel Barnier has confirmed that the Commission is closely monitoring developments both in European Union member states and in other countries in the field of intellectual property rights and online piracy, including the current debate in the US Congress on proposed legislation.
	Ireland Overcoming Fiscal Woes 1/24/2012 Ireland has received positive feedback in terms of its progress towards fiscal targets from the International Monetary Fund, the European Central Bank and the European Commission as part of a review into progress made under a financial assistance package provided to the nation to aid its resurgence from the global financial and domestic banking crisis.
	EU To Review Passenger Ship Safety Legislation 1/23/2012 Siim Kallas, the European Commissioner for Transport, has asked that the currently on-going review of European Union passenger ship safety legislation take fully into account any lessons to be learnt from the Costa Concordia incident.
	EU Challenges Ontario's Green Energy Act 1/20/2012 The European Union has requested the creation of a dispute settlement panel by the World Trade Organisation to examine Ontario's concessionary treatment of providers of green energy products and services that meet local content requirements under the Canadian province's Green Energy Act.
	Moldova Holds First Round Meetings On FTA With EU 1/20/2012 European Union negotiators met with the Moldovan government on January 16, 2012, to agree a timeline to begin negotiations immediately towards a Deep and Comprehensive Free Trade Area.
	EU Issues E-Commerce Action Plan 1/18/2012 As part of the European Union’s Digital Agenda and the Single Market Act, and in response to the request from the European Council to submit a roadmap for the completion of the Digital Single Market, the European Commission has adopted a Communication presenting targeted initiatives aimed at doubling the share of e-commerce in retail sales by 2015.
	Transaction Costs To Soar Under EU FTT 1/18/2012 Transaction costs in the foreign exchange markets would soar under a European financial transactions tax (FTT) and could potentially result in three quarters of taxable transactions relocating to other jurisdictions to avoid the tax, a new report has warned.
	Italy Backs EU Financial Transactions Tax 1/16/2012 Italy, under the new leadership of Prime Minister Mario Monti, has voiced support for the introduction of taxes on European financial transactions.
	German Coalition Split On Tobin Tax 1/13/2012 Germany’s coalition government partners are once again on a head-on collision course, divided this time on the issue of whether or not to implement a financial transactions tax merely at eurozone level.
	Hungary Ordered To Recover State Aid To Airline 1/11/2012 The European Commission has ruled that financing granted to Hungarian flag carrier Malev in the context of its privatization and re-nationalization constituted illegal state aid, and has requested that the aid be recovered.
	Sarkozy Seeks To Steer Merkel On 'Tobin' Tax 1/11/2012 Ahead of a crucial European Council meeting on January 30, and determined to gain much needed ground in the run up to the presidential elections in France in April, French President Nicolas Sarkozy advocated accelerating implementation of a tax imposed on financial transactions, during his meeting with German Chancellor Angela Merkel in Berlin on Monday.
	France Takes Lead On Transactions Tax 1/9/2012 France will continue to push for the introduction of a financial transactions tax in Europe this year, even without German backing for an acceleration of the implementation timetable for the proposed new levy.
	EU Approves Irish Banking, Credit Union Reforms 12/27/2011 Irish Finance Minister Michael Noonan has welcomed the European Commission's decision to approve the government's schemes for the salvaging of credit unions and the restructuring of the Bank of Ireland.
	Osborne Slates FTT Plans 12/27/2011 The European Commission's plans for a financial transaction tax would have a substantial impact on the UK's revenues, the Chancellor has said.
	EU Praises Portuguese Fiscal Policy 12/26/2011 The European Commission has delivered a report on progress made by the Portuguese government in its efforts to bring the nation's fiscal house into order.
	Jersey Welcomes Corporate Tax Certainty 12/22/2011 Jersey’s corporate tax regime was endorsed by the Council of Ministers of the European Union on December 19, confirming that it no longer contains 'harmful' provisions.
	EU, North Africa Open Trade Negotiations 12/16/2011 The European Commission has welcomed the decision of the European Union Foreign Affairs Council to authorise the opening of trade negotiations with Egypt, Jordan, Morocco and Tunisia.
	France, Germany Work On Joint Tax Initiative 12/16/2011 French Finance Minister François Baroin has revealed that a Franco-German ‘contribution’ to the idea of a tax imposed on financial transactions in Europe is due to be presented on January 23, with a view to being ‘operational’ in 2013.
	Germany Welcomes EU Consensus On Fiscal Union 12/13/2011 Plans to conclude a new treaty on fiscal union will serve to win back the confidence of both the markets and the public in the stability of the common currency, according to German Chancellor Angela Merkel.
	Doubts Expressed On US-EU Data Protection Cooperation 12/8/2011 In remarks to the 2nd Annual European Data Protection and Privacy Conference in Brussels on December 6, Viviane Reding, Vice-President of the European Commission and the European Union Justice Commissioner, spoke on the future of data protection and transatlantic cooperation with the United States.
	EU And Russia Reach Siberian Overflight Agreement 12/6/2011 The European Commission and the Russian government have agreed to a revision of the system of Siberian overflight payments, which EU airlines are required to pay when flying over Russian territory.
	Cyprus Agrees Deficit-Busting Tax Measures 12/7/2011 The Cypriot government has said there is multi-party consensus towards tax hikes and retrenchment to rapidly reduce the nation's deficit to below 3% of gross domestic product by 2012, to allay fears that the nation will require a bailout.
	EU Extends Crisis Rules For Banks' State Aid 12/5/2011 The European Commission has updated and extended the set of temporary state aid control rules, which have been in place since 2008 to assess public support to financial institutions during the financial crisis.

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