Tomorrow, 9 June, the EU Commission will officially pave the way to an infringement procedure against Germany. In May last year, I had demanded such an infringement procedure from EU Commission President Ursula von der Leyen after the German Federal Constitutional Court’s ruling on the ECB’s bond purchases. She then promised me that she would […]
New rules for Bitcoin & Co: My proposals for the EU crypto regulation
Dear friends, dear interested, Europe is finally moving forward with the regulation of crypto-assets. This is to introduce binding rules for existing cryptocurrencies such as Bitcoin and Ethereum and to create a framework for innovative financial services based on blockchain. After the EU Commission presented a legislative proposal for Markets in Crypto-Assets (MiCA) last autumn, […]
Cyprus announces veto on minimum effective corporate taxation: Europe must act now
June 3. The Economic and Monetary Affairs committee of the European Parliament has just held an exchange of views with Constantinos Petrides, Minister of Finance of the Republic of Cyprus. His governing party is a member of the European People’s Party (EPP). When I asked him about his country’s support for a minimum effective corporate […]
EU agreement on public country-by-country reporting: a milestone for greater tax justice!
1 June. Negotiators from the Council and the European Parliament have just agreed on a compromise text for public country-by-country reporting by multinational companies. Companies operating in Europe with a total consolidated turnover of more than €750 million in the last two consecutive financial years will have to disclose relevant tax information by country. This […]
Open Letter to the EU Commission for credible Sustainable Finance Rules
Personal letter from actors in the field of Sustainable Finance (Background information/ Sign here!) Dear Commissioner McGuinness, Dear Vice-President Dombrovskis, We are writing to you today as providers, investors and other professional stakeholders in the Sustainable Finance sector. In these weeks, the European Commission, in close consultation with the Member States, will decide on the […]
Tax cooperation in Europe: Conservatives glorify outdated notion of “beneficial tax competition“ and national tax sovereignty
Yesterday, 27 May, the European Parliament’s Economic and Monetary Affairs Committee voted on my “Report on the implementation of EU requirements for the exchange of tax information: Progress, lessons learned and obstacles to be overcome”. In a first vote on the amendments, there was broad support for the jointly drafted compromise amendments. However, five amendments […]