Economic and Financial Affairs Council, 25 May 2016

A meeting of the Economic and Financial Affairs Council was held in Brussels on 25 May 2016. The agenda included the following items:

+ Agreement on the Council's position on the draft anti-tax avoidance directive;

+ Adoption of conclusions regarding the European Commission's communication on an external taxation strategy and on a recommendation on measures against tax treaty abuse. Both are part of the 'anti tax avoidance package';

+ Discussion on the EC's VAT action plan published in April 2016, followed by a discussion on the European Court of Auditors' special report on VAT fraud.

+ Discussion on the in-depth reviews of macroeconomic imbalances in 19 EU member states, which were published by the Commission in March 2016;

+ Review on how country-specific recommendations for 2015 were implemented in the member states;

+ Update on the progress made by member states in implementing the banking union legislation.

• Primary Source

ESO: Background information: Economic and Financial Affairs Council, 8 March 2016 http://www.europeansources.info/record/meeting-economic-and-financial-affairs-council-8-march-2016/

ESO: Background information: Press Release: Minimum VAT rate extended for two years http://www.europeansources.info/record/press-release-minimum-vat-rate-extended-for-two-years/

ESO: Background information: Press Release: Corporate tax avoidance: Council adopts rules on the exchange of tax-related information on multinationals http://www.europeansources.info/record/press-release-corporate-tax-avoidance-council-adopts-rules-on-the-exchange-of-tax-related-information-on-multinationals/

ESO: Background information: Press Release: Council conclusions on an external taxation strategy and measures against tax treaty abuse http://www.europeansources.info/record/press-release-council-conclusions-on-an-external-taxation-strategy-and-measures-against-tax-treaty-abuse/

ESO: Background information: Press Release: Council conclusions on in-depth reviews and implementation of the 2015 Country Specific Recommendations http://www.europeansources.info/record/press-release-council-conclusions-on-in-depth-reviews-and-implementation-of-the-2015-country-specific-recommendations/

ESO: Background information: Memo: Joint Conclusions on the Economic Reform Programmes http://www.europeansources.info/record/memo-joint-conclusions-on-the-economic-reform-programmes/

European Commission: DG Communication: RAPID: SPEECH/16/1914, 25.05.16: Remarks by Vice-President Valdis Dombrovskis at the May ECOFIN press conference http://europa.eu/rapid/press-release_SPEECH-16-1914_en.htm

ESO: Background information: Press Release: Council conclusions on the VAT action plan and on VAT fraud http://www.europeansources.info/record/press-release-council-conclusions-on-the-vat-action-plan-and-on-vat-fraud/

EurActiv, 26.05.16: Member states fail to reach deal to tackle company tax avoidance http://www.euractiv.com/section/euro-finance/news/member-states-fail-to-reach-deal-to-tackle-company-tax-avoidance/

EUObserver, 26.05.16: Finance ministers baulk at tax-avoidance rules https://euobserver.com/economic/133556

---