Business (Demo)

18 May: Remarks by Executive Vice-President Dombrovskis at the press conference on the Communication on Business Taxation 21

(Source: European Commission)

“Check against delivery”

The business environment has been changing radically over the last few decades – and especially over the last year.

The pandemic accelerated some major trends that were already re-shaping our economies and societies.

More and more Europeans are working, interacting and doing business online.

Today’s tax bases are changing. Our existing tax environment is no longer in line with our broader objectives and ambitions.

It does not reflect long-term priorities such as the green and digital transitions.

We also need taxation to support and sustain our recovery, by creating an environment conducive to fair …

18 May: Questions and Answers: Future-proof taxation – Commission proposes new, ambitious business tax agenda

(Source: European Commission)

Why has the European Commission adopted a Communication on Business Taxation for the 21st century?

The EU needs a robust, efficient and fair business tax framework that supports the post-COVID-19 recovery, removes obstacles to cross-border investment in the Single Market and creates an environment conducive to fair and sustainable growth.

Today’s Communication sets out both a long-term vision to provide a fair and sustainable business environment and EU tax system, as well as a tax agenda for the next two years, with targeted measures that promote productive investment and entrepreneurship and ensure effective taxation. This agenda complements …

11 May: Mergers: Commission clears acquisition of joint control of AT&T’s U.S. video business by TPG and AT&T

(Source: EU Commission)

The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control over AT&T’s U.S. video business by TPG Capital (‘TPG’) and AT&T Inc., all of the U.S. AT&T’s U.S. video business, which is currently solely controlled by AT&T, is a provider of direct broadcast satellite services, multichannel television services and digital video services to customers in the U.S. AT&T’s U.S. video business also sells advertising on its distribution platforms. TPG is a private investment firm that manages a family of funds that invest in a variety of companies worldwide through acquisitions and corporate …

11 May: State aid: Commission approves €1.9 billion Czech scheme to support companies in context of coronavirus outbreak

(Source: EU Commission)

The European Commission has approved an approximately € 1.9 billion (CZK 50 billion) Czech scheme to support companies affected by the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework. The measure is addressed to companies of all sizes and active in all sectors, except the financial sector. Under the scheme, the aid will take the form of direct grants, guarantees or loans to compensate beneficiaries for the expenditures incurred in the period February 2020 to December 2021. Eligible companies are those that experienced a minimum decline in turnover in the range of 25% …

11 May: State aid: Commission approves €500 million Greek scheme to support food service companies affected by coronavirus outbreak

(Source: EU Commission)

The European Commission has approved, under EU State aid rules, a €500 million Greek support scheme to support food service companies affected by the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework.

Commissioner Margrethe Vestager, in charge of competition policy, said: “Companies active in the food service sector have been hit hard by the coronavirus outbreak and the restrictive measures imposed to limit the spread of the virus. This €500 million aid scheme will enable Greece to help these companies meet their liquidity needs and continue their activities during these difficult times. We continue to …

11 May: State aid: Commission approves Danish scheme to compensate companies for damages suffered due to coronavirus outbreak

(Source: EU Commission)

The European Commission has approved, under EU State aid rules, a Danish scheme to compensate damages suffered by companies in the tourism and travel-related sectors, with a budget of approximately €47 million (DKK 350 million) per month. The scheme will be open to companies active in sectors that are still affected by border and travel related measures implemented by the Danish government to limit the spread of the coronavirus. This scheme follows a similar scheme approved by the Commission in July 2020, which covered the period between 9 July and 31 August 2020 (SA.57932). Under the new scheme, …

11 May: State aid: Commission approves €1.9 billion Czech scheme to support companies in context of coronavirus outbreak

(Source: EU Commission)

The European Commission has approved an approximately € 1.9 billion (CZK 50 billion) Czech scheme to support companies affected by the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework.

Executive Vice-President Margrethe Vestager, in charge of competition policy, said: “Many EU companies have seen their revenues and activities significantly decline because of the restrictive measures put in place to limit the spread of the coronavirus. This €1.9 billion Czech scheme will ensure liquidity support to companies affected by the coronavirus outbreak. We continue working in close cooperation with Member States to find workable solutions to …

11 May: Private sector working group on euro risk-free rates publishes recommendations on EURIBOR fallbacks

(Source: ECB)

The private sector working group on euro risk-free rates has today published its recommendations addressing events that would trigger fallbacks in EURIBOR-related contracts, as well as €STR-based EURIBOR fallback rates (rates that could be used if a fallback is triggered). While there is currently no plan to discontinue EURIBOR, the development of more robust fallback language addresses the risk of a potential permanent discontinuation and is in line with the EU Benchmarks Regulation (BMR). The valuable feedback from the two market-wide consultations on the draft recommendations has been taken into account in the final recommendations.

As with similar fora in other currency …

05 May: Europe’s “Fit for 55” Package must be fit and just

Editor’s Blog: Produced in collaboration with the EU Buzz team 

Last September, the European Commission presented the 2030 Climate Target Plan acknowledging that the present European Union’s climate target is insufficient and that the 2030 climate and energy policy framework needs updating. The Commission also announced its intention to increase the EU’s climate target to achieve a reduction of at least 55% of greenhouse gas emissions (GHG) by 2030 compared to 1990. In December 2020, at the European Council meeting, the new Climate Target Plan was officially endorsed by the EU members states.

To achieve its goal, the Commission identified …