FISC Subcommittee to discuss the impact of taxation on gender equality
On 13 January 2025, from 16:00 to 17:15, the FISC Subcommittee will host a public hearing on the impact of taxation on gender equality in the European Union. The hearing is being held as part of the European Parliament's Gender Equality Week 2024. The hearing will examine how tax measures in EU Member States affect gender equality, either in a positive or a negative way. It will further look at what tax policies can currently be seen as obstacles to promoting gender equality and look at how these obstacles can be addressed. Moreover, the hearing will identify tax measures that can serve as a best practice or which could be considered to advance gender equality and will consider whether EU-level tax policies can contribute to achieving this objective. FISC MEPs will discuss these matters with Prof. Åsa Gunnarsson (Professor of Tax Law, Umeå University in Sweden), Ms. Manal Corwin (Director of the Centre for Tax Policy and Administration of the Organisation for Economic Co-operation and Development (OECD)) and Ms. Laura Linda Sabbadini (former Director of the Italian National Statistics Institute and former Chair of Women 20). The hearing can be followed here.
European Commission and European Parliament to hold third EU Tax Symposium on 18 March 2025
On 18 March 2025, the European Parliament and the European Commission will co-host the EU Tax Symposium in Brussels for the third time. This year’s theme will be “Strengthening Competitiveness and Fairness to Build Prosperity”. Finance Ministers, European and national parliamentarians, high-level policy-makers, academics and civil society representatives will discuss a wide range of tax issues at all levels of governance. Registration is expected to open in January.
EPPO uncovers €17 Million VAT fraud scheme in Spain
The European Public Prosecutor’s Office (EPPO) has uncovered a significant VAT fraud scheme amounting to €17 million. The operation targeted a transnational criminal network involved in the sale of luxury cars while evading VAT. EPPO announced that thirty individuals were arrested, including the suspected ringleader. According to the investigation, the leader of the criminal organisation operated from Germany, from where he sent instructions to supply vehicles to car dealers located in Spain. The vehicles were distributed from Germany through two branches of the organisation, which were in charge of transporting and delivering the cars to dealerships located in Spain. A third branch of the organisation is believed to have been responsible for developing the intricate network needed to perpetrate the tax fraud and launder the resulting proceeds, including “missing traders” or shell companies established for the sole purpose of evading the payment of VAT.
FASTER Directive published in the Official Journal of the EU
On 10 January 2025, the Directive on faster and safer relief of excess withholding taxes (FASTER) was published in the Official Journal of the European Union. The directive will enter into force on the twentieth day following its publication in the Official Journal. The FASTER initiative aims to make withholding tax procedures in the EU safer and more efficient for cross-border investors, national tax authorities and financial intermediaries, such as banks or investment platforms. The directive introduces two fast-track procedures to complement the current standard refund process for withholding taxes and establishes a standardized reporting requirement for financial intermediaries, such as banks and investment platforms. Additionally, it will implement a common EU digital tax residence certificate (eTRC), enabling tax-paying investors to benefit from the fast-track procedures for obtaining withholding tax relief. Member States will facilitate this by providing an automated system to issue eTRCs to individuals or entities recognized as tax residents within their jurisdiction. Member States will have to transpose the directive into national legislation by 31 December 2028, and the national rules will have to apply from 1 January 2030.
EU Finance Ministers will meet in Brussels on 21 January 2025
EU Finance Ministers will convene their first meeting of 2025 in Brussels on 21 January. The Polish Presidency will present its work programme, followed by exchanges on the economic and financial impacts of Russia’s aggression against Ukraine. The Council will assess the implementation of the EU economic governance framework, including recommendations under the Excessive Deficit Procedure and medium-term fiscal-structural plans. Key reports for the 2025 European Semester, such as the Alert Mechanism Report 2025 and economic policy recommendations for the euro area, will be presented by the Commission followed by an exchange of views. The Council is also set to approve decisions under the Recovery and Resilience Facility, supporting Europe’s ongoing economic recovery.
