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On 18 April 2023, the European Commission tabled a package of proposals to amend the bank crisis management and deposit insurance (CMDI) framework. The objective of the reform is to calibrate the latter so as to further deepen harmonisation and reduce the use of taxpayer funding. More specifically, the proposal for a CMDI reform would amend the early intervention procedure and the decision to resolve a failing bank in the public interest. It would also encourage the use of funding from national deposit ...

While shell companies – company entities that have no or minimal economic activity – can serve useful commercial and business functions, they are sometimes abused by companies or individuals for aggressive tax planning or tax evasion. To ensure sustainable public finances under the exceptional circumstances imposed by the COVID-19 pandemic, in December 2021 the European Commission presented a directive on preventing shell companies from misusing their structure for tax purposes ('Unshell'). The proposal ...

Economic globalisation and integration led to an increase in the mobility of taxpayers and aggravated tax competition in the area of personal income and wealth taxation. This study sheds light on the two main instruments used to compete for mobile taxpayers – (top) tax rates and preferential tax arrangements. In addition, this study reviews the evidence on tax-induced mobility. This document was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request ...

Value added tax (VAT) is a very efficient consumption tax and an important source of revenue for both national and European budgets. However, the rules governing common EU VAT system are 25 years old. A substantial review was initiated from 2016 onwards in order to update it and make it less vulnerable to fraud. The reform of the VAT framework towards a definitive VAT system for intra-Community business-to-business (B2B) transactions was planned in several consecutive steps. The Commission proposal ...

This paper forms part of a series of analytical pieces on various key tax issues, prepared by Policy Department A at the request of the TAXE Special Committee of the European Parliament. It deals with the need for information exchange between sovereign states on tax-related issues, which is increasing rapidly. In this vein, the Organisation for Economic Co-operation and Development (OECD) and the EU have developed better instruments of information exchange. The OECD has enlarged the scope of Articles ...