Taxation and Customs Union
The year 2011 for Commissioner Šemeta was a year of hard work and delivered results in all of his areas of responsibility: Taxation and Customs Union, Anti-Fraud and Audit, as well as new field - European Statistics.
Check the Šemeta-Meter and see what was promised and deliver ed!
Brussels, 15 December 2011 - EU citizens that inherit foreign property are frequently faced with a tax bill from more than one Member State. In fact, in extreme cases the total value of a cross-border inherited asset might even have to be paid in tax, because several Member States may claim taxing rights on the same inheritance or tax foreign inheritances more heavily than local inheritances. Citizens may be forced to sell inherited assets, just to cover the taxes, and small businesses may face transfer difficulties on the death of their owners. To tackle these problems, the Commission today adopted a comprehensive package on inheritance taxation. Through a Communication, Recommendation and Working Paper, the Commission analyses the problems and presents solutions related to cross-border inheritance tax in the EU. Algirdas Šemeta, Commissioner for Taxation, Customs, Anti-fraud and Audit, commented:
"Benjamin Franklin once said that nothing is certain except death and taxes. Unfortunately, when you put the two together, a huge amount of uncertainty seems to arise. The burden of cross-border inheritance tax can be crippling for citizens, due to discrimination and double taxation. Small changes in Member States' rules to make them more coherent with each other could deliver real benefits for hundreds of thousands of people across Europe. This is what we aim to achieve."
Brussels, 19 December 2011, EU Anti-Fraud policy makes a substantial contribution to protecting the financial interests of the EU and Member States' budgets every year. It ensures that EU and national budgets are well protected, that the money is spent for its intended purposes and reaches its proper beneficiaries.
In order to continue its work in this field, the European Commission today adopted two proposals for the Hercule III and Pericles 2020 programmes. With a budget of 110 million euro and 7.7 million euro respectively, these programmes will run for seven years from January 2014.
Algirdas Šemeta, Commissioner for Taxation, Customs, Anti-fraud and Audit, said: "Fraud against the EU budget is not a victimless crime. It concerns all European citizens because it is everybody’s money. As the EU is in the midst of a global financial crisis, it is particularly important that we protect our revenues and make sure our citizens benefit as much as possible from EU funds."