The Ministers continued first round discussion on the directives that address practises against tax avoidance and a new form of mandatory automatic change of information. The point of the Hungarian government is that the maintenance of a healthy European tax-competition is important, furthermore the practises of member states’ bilateral tax-agreements and their existing obligations must be considered. All these points taken into account Hungary calls for further impact assessments.
The Ministers also discussed the oral report of the working group which examines the possibilities of transformation of the EU‘s own resources system from 2021. The working group leader, ex- Italian Prime Minister and Commissioner Mario Monti emphasized that not only the elaboration of reform plans on the revenue side but the challenges regarding to the expenditures must be also considered. Monti will present his report by the end of 2016.
The Ecofin discussed the Commission’s Action Plan to strengthen the fight against financing terrorism as well. The accepted Council conclusions laid out more path of action like the quick implementation of the directive against money laundering and financing terrorism, improvement of the cooperation among the financial information units of the member states, the more effective execution of UN resolutions in the EU regarding to the freezing of assets, the preparation of national risk assessments, examination of possibilities to restrict cash payments and strengthening the possible actions against illegal trade of cultural goods.
During the breakfast before the session the ministers have been informed about the winter forecast of the Commission which confirms that the growth of Hungary exceeds the EU’s average.
