ECOFIN: finance ministers exchange views on European Green Deal and tax challenges of digitalisation; initiate European Semester
date: 30/01/2020
The Commission presented its communication on the European Green Deal Investment Plan that was published on 14 January. During the debate, ministers stressed the importance and relevance of the European Green Deal and their readiness to examine, as a matter of priority, the concrete actions to be put forward by the Commission under the deal in the months to come. The Council also initiated the annual 'European Semester' process for the monitoring of Member States’ economic, employment and fiscal policies, and the Commission presented its Autumn package which was published on 17 December 2019. Ministers also exchanged views on tax challenges arising from digitalisation. They took stock of the progress achieved in the context of the OECD, both on the reallocation of profits of digitalized businesses ("Pillar 1") and on the general reform of international corporate taxation ("Pillar 2). The debate confirmed that an international solution on digital taxation was the best way forward, as it would prevent fragmentation and unilateral measures.