Meeting: Economic and Financial Affairs Council, 06 October 2015

Finance ministers from the European Union met for the Economic and Financial Affairs Council on 6 October 2015, in Luxembourg. The following topics were discussed at the meeting:

+ Cross-border tax rulings

The Council reached a political agreement on a draft directive aimed at improving transparency in the assurances given by member states to companies about how their taxes are calculated.

+ Capital Markets Union

The Council discussed an action plan aimed at establishing a capital markets union in the EU by the end of 2019.

The plan, proposed by the Commission on 30 September 2015, sets out a variety of measures to strengthen capital markets so as to attract more investment, including foreign investment, for European companies and infrastructure projects.

The Council urged the Commission to proceed with speedy implementation of the plan.

The presidency indicated work would start immediately on a proposal on securitisation, one of the key measures envisaged.

ESO: Background information: Tax transparency: Commission welcomes agreement reached by Member States on the automatic exchange of information on tax rulings http://www.europeansources.info/record/press-release-tax-transparency-commission-welcomes-agreement-reached-by-member-states-on-the-automatic-exchange-of-information-on-tax-rulings/

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