A new VAT system for taxing trade between Member States must tap its full potential and limit any possible negative effects for the single market, says the European Economic and Social Committee in its recently adopted opinion on a proposal presented by the European Commission. Greater collaboration between national authorities and extensive communication by the Commission will be key to its successful implementation. Clarifications are needed on some proposed concepts and criteria and a common system for goods and services must follow as soon as possible.
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The EU crowdfunding framework proposed by the European Commission will help to build a capital markets union, foster innovation and support entrepreneurs and SMEs across the EU, says the European Economic and Social Committee (EESC) in a recently adopted opinion, which strongly supports the Commission's proposals. The proposed regulatory framework – a 29th regime, to exist in parallel with the 28 national regimes – will allow small, young and innovative enterprises in particular to strive for financing in all EU Member States.
The EESC believes that the European Commission's Action Plan is a good basis but that additional measures are needed to tap the full potential of financial technology and to ensure certainty and protection for all market participants
The European Economic and Social Committee (EESC) welcomes the European Commission's proposals regarding its Action Plan on VAT, which aim to modernise the EU Value Added Tax (VAT) system, at the same time calling for some modifications. It asks the Member States to do their utmost to implement the proposed reforms and move towards the definitive VAT system within a reasonable timeframe.
The EMU needs a common strategic vision, efficient governance mechanisms and a clear social dimension
All Member States, with the exception of the United Kingdom, Denmark and Malta, have decided to launch permanent structured cooperation (PESCO), pursuant to Section 2 (Articles 42 to 46) and Protocols 10 and 11 to the TEU. The will to introduce a type of differentiated integration has arisen as a political response to the demand from European citizens for greater security. It is a clear message of support for the common values of the Treaty of Rome, particularly now, at a time when the memory of the historical values of peace and cooperation that drove the peoples of the founding Member States to respond unanimously to the horrendous wounds of two world wars is fading in many Member States.
The reporting mechanism will contribute to more tax justice and fair competition in the EU
The European Commission must set out more precise hallmarks for the proposed reporting obligations on cross-border tax arrangements and transactions in order to prevent subjective interpretation by taxpayers and tax authorities which could lead to over-reporting and administrative burdens, the European Economic and Social Committee (EESC) urges in its recently adopted opinion on disincentives to tax avoidance or evasion.
Looking back at the achievements of the Maltese Presidency and in particular at the progress made by the business community – this was the focus of a debate during the last Employers' Group meeting on 20 September, with the participation of the Employers' Group members and the presidents of the three major Maltese employers' organisations.
The proposal for a European Pillar of Social Rights published by the European Commission elicited a critical first reaction from the secretaries general of UEAPME, EUROCHAMBRES and CEEP. Véronique Willems, Arnaldo Abruzzini and Valeria Ronzitti participated in the Employers' Group meeting to discuss their organisations' current priorities.
On 30 March 2017, the European Economic and Social Committee (EESC) adopted an opinion on the European Commission's proposed directive on business insolvency, which is intended to harmonise preventive restructuring procedures across Europe. While fully supporting the Commission's shift from liquidation to early restructuring in dealing with business insolvency, the EESC proposes a set of measures to help prevent its social damages.