Main news from Brussels this week
date: 13/10/2017
Commission calls for the completion of all parts of the Banking Union by 2018
This week, the Commission set out a path towards completing the Banking Union. Key objectives include: a quick agreement on the banking package to reduce risks and strengthen the resilience of EU banks, progress on the European Deposit Insurance Scheme and reducing non-performing loans.
The Banking Union must be completed if it is to deliver its full potential for making the Economic and Monetary Union (EMU) more stable and resilient to shocks, while limiting taxpayers' exposure to risks. This will be beneficial for the entire single market.
Commission welcomes new rules to resolve tax disputes
On 10 October, EU member states gave the green light for new rules to better resolve tax disputes. This will help businesses and citizens resolve disputes related to the interpretation of tax treaties more swiftly and effectively. It will also cover issues related to double taxation. Double taxation refers to cases where two or more countries claim the right to tax the same income or profits of a company or person. It can occur, for example, due to a mismatch in national rules or different interpretations of a bilateral tax treaty with regards transfer pricing arrangements. The improvements to the current rules will give taxpayers much more certainty when it comes to seeking resolution to their interpretation of tax treaties or double taxation problems.
EU countries should use pesticides more sustainably
On 10 October, the Commission published a report on the sustainable use of pesticides which takes stock of progress made by the EU member states in applying measures to reduce the risks and impacts of pesticides. It covers a wide range of topics such as aerial spraying, information to the public or training of professionals. The report indicates insufficient implementation of the Directive on the sustainable use of pesticides.
All this week's key European Commission announcements can be found here