Economic and Financial Affairs Council, 5 April 2022

Summary:

A meeting of the Economic and Financial Affairs Council (ECOFIN) was held on 5 April 2022. The agenda includes the following items:

• Discussion on the implementation of the sanctions imposed by the European Union (EU) on Russia, their effectiveness and their strengthening;
• Discussion on the economic issues related to the reception of Ukrainian refugees;
• Discussion on the impact of the war in Ukraine on the European economies, based on an assessment by the European Commission;
• Adoption of conclusions on the strategic autonomy of the European economic and financial sector;
• Discussion on the implementation of the 2021 Council conclusions on strengthening the European financial architecture for development;
• Discussion on the proposed Directive transposing into EU law the global agreement reached at the OECD Inclusive Framework concerning tax rates for multinational groups;
• Preparations for the IMF spring meetings;
• Adoption of EU's mandate for the forthcoming G20 meeting of finance ministers and central bank governors;
• Presentation by the European Commission on the state of play as regards the implementation of financial services legislation.
• Adoption of proposed Council Directive updating rules on Value Added Tax (VAT);
• Adoption of proposed Council Regulation updating the mandate of the EU's Fundamental Rights Agency (FRA);
• Adoption of proposed Decision authorising Member States to sign the second additional protocol to the convention on cybercrime (Budapest Convention).

• Primary Source

Official

General Secretariat of the Council: Background Brief for the meeting - Economic and Financial Affairs Council, 5 April 2022 https://www.consilium.europa.eu/media/55317/background-brief-ecofin-220405.pdf

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