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|Title:||(Informal) Economic and Financial Affairs Council, 15-16 September 2017|
|Author:||Estonia: Presidency of the Council of the European Union|
|Notes:||An informal meeting of the European Union's economic and financial affairs ministers was held on 15-16 September 2017. The agenda included the following topics:
+ Deepening of the Economic and Monetary Union (EMU) and maximising the effectiveness of EU finances, interaction of rules and institutions;
+ Capital Markets Union (CMU): Technological innovation and financial regulation;
+ Corporate taxation challenges of the digital economy;
+ Cost efficiency and sustainability of customs IT systems.
|Keywords:||ECOFIN - Informal Economic and Financial Affairs Council, Tallinn, 15-16 September 2017 - Digital taxation - Virtual Permanent Establishment | PE - Base erosion and profit shifting - Google - Facebook - Amazon|
5.1 - Economic and monetary policy: General
6.5 - Single Market: Tax issues
2.5.a - Council of the European Union: Meetings
|Geographic Indicators:||European Union|
+ Corporate taxation challenges of the digital economy
Finance and economic affairs ministers of the EU member states discussed updating international tax rules for companies, so that these rules could also be applied to taxing enterprises that use digital technology. The ministers agreed to move forward swiftly and to reach a common understanding at the Ecofin Council in December 2017.
Ten countries (France, Germany, Italy and Spain, joined by Romania, Bulgaria, Slovenia, Greece, Portugal and Austria) signed a letter calling for specific measures to start taxing the revenues of digital companies such as Google, Amazon and Facebook. Other countries expressed degrees of reservation to aspects of this specific proposal.
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