Reminder - ETAF Professional Law Conference on 9 December 2025 in the European Parliament
The European Tax Adviser Federation (ETAF), in cooperation with MEP Maria Grapini (S&D member), is pleased to invite you to join leading voices from the European Parliament, the European Commission and the tax profession for an open and forward-looking exchange on what lies ahead for the Single Market for services and how the tax profession should prepare. Speakers include: - MEP Maria Grapini (S&D member, Romanian), Vice-President of the IMCO Committee; - Mehdi Hocine, Head of Unit “Services strategy and mutual recognition” at DG GROW of the European Commission; - Salvador Marín, President of the European Federation of Accountants and Auditors for SMEs (EFAA); - Léa Marchal, EU journalist and deputy redactor in chief at Agence Europe; - ETAF President Philippe Arraou; and - ETAF Head of Office Michael Schick. On-site seats are limited and will be attributed on a first-come, first-served basis. Online participation is also possible. Secure your seat now and register here.
FISC Subcommittee to hold public hearing on “Taxation of Ultra-high-net-worth individuals”
On 11 December 2025, from 10:30 to 12:30, the FISC Subcommittee will host a public hearing on “Taxation of Ultra-high-net-worth individuals”. As guests the Subcommittee invited Dr Benjamin Angel(DG TAXUD); Dr Kurt Van Dender, (OECD); Prof. Dr Gabriel Zucman, (European Tax Observatory); and Dr Michael Christl, (Tax Foundation Europe), to discuss the taxation of ultra-high-net-worth individuals (UHNWIs). The hearing will address concerns about fairness and the need for tax policies that support equitable growth. Speakers will analyse how UHNWIs minimize tax liabilities through loopholes, offshore structures, and aggressive tax planning strategies. Furthermore, the discussion will also assess the role of transparency measures, such as public registers and global reporting standards, and propose tools and resources for tax authorities to enhance compliance enforcement. Finally, the panel will explore strategies for improving cross-border cooperation to close gaps in the global tax system that enable tax avoidance and financial opacity.
Agenda of ECOFIN Council meeting on 12 December
On 12 December 2025, the EU Finance Ministers will hold their last meeting for the year 2025. Based on the agenda the Council is expected to exchange views on the Commission’s alert mechanism report, draft euro area recommendation, and report on the excessive deficit procedure, published on 25 November as part of the 2026 European semester autumn package. The Council will exchange also views on the economic consequences of EU legislation in view of draft Council conclusions on the topic. In addition, the ECOFIN agenda includes several other topics as the single currency package. The Council will hold a policy debate to pave the way for adopting its position on the package. The package includes the legal framework for the initiative to introduce a digital euro and a regulation addressing the legal tender status of euro cash. Furthermore, Ministers are set to adopt implementing decisions approving modified recovery and resilience plans, submitted by Member States. Regarding taxation, the Council will approve the bi-annual ECOFIN report on tax issues. Ministers will also adopt conclusions on the progress achieved by the Code of Conduct Group. Lastly, the president of the European Court of Auditors, Tony Murphy, will present the Court’s annual report on the implementation of the EU budget for the financial year 2024, which was published on 9 October 2025. The next meeting of the ECOFIN Council will take place on 20 January 2026.
OECD publishes report on economic outlook
On 2 December 2025, the OECD published its report “Economic Outlook, Volume 2025 Issue 2 Resilient Growth but with Increasing Fragilities”. The report provides a general assessment of the macroeconomic situation in the first chapter, including recent developments, economic projections, and a detailed analysis of risks and policies. The report includes a second chapter focusing on the economic impact and priorities for regulatory policy, addressing the slowdown in productivity and economic dynamism. In the third chapter, the report provides developments and projections for individual countries. As part of a broader set of policy recommendations to ensure longer-term debt sustainability and strengthen sustainable economic growth, the authors also included a set of tax measures. According to the report, tax revenues can be raised by broadening tax bases and improving tax compliance, as well as by raising rates. To broaden the tax base inefficient tax expenditures or ineffective tax exemptions should be eliminated. Additionally, the report states that effective taxation of housing, and capital more broadly, can limit distortions to economic activity while helping address income and wealth inequality. Specific suggestions include better taxing the recurrent returns to residential property and capital gains on housing assets. The report recommends that countries with relatively high Value Added Tax (VAT) rates may need to look at eliminating inefficient tax expenditures, broadening tax bases, or turn to underexploited taxes to tackle structural revenue shortfalls.
