Agreement on three important tax files expected from last #Ecofin of Estonian EU presidency

EU finance ministers are gathering in Brussels to endorse EU Council conclusions on taxation of the digital economy, adopt a cross-border e-commerce VAT package and to confirm the list of non-co-operative jurisdictions on tax issues.

These files have all been Estonian EU council presidency priorities. The Ecofin Council is also the last of the Estonian EU presidency.

Toomas Tõniste, Estonian minister of finance, chairing the meeting stressed the importance of the conclusions on the taxation of profits in the age of digital economy.

"Taxation of the digital economy is not just another change in tax rules, we are looking for a ground breaking consensus that will take taxation rules to the digital age,“ said Tõniste. "Estonia has made clear that it is one of our priorities and hopefully the European Commission and the OECD can move forward on the basis of today’s conclusions. What we need next, is a global approach."

Two other taxation topics are also on the agenda: the list of non-cooperative jurisdictions and cross-border e-commerce VAT package. "The list of jurisdictions is a clear call for everyone to follow the international agreed rules of fair taxation," said Tõniste.

The e-commerce VAT package is expected to be adopted without discussion. The main objectives of the package are to make cross-border e-commerce easier for small and medium size enterprises and ensure fair competition within the EU.

Two banking union reports will also be discussed by ministers and handed over to the incoming Bulgarian presidency. Issues related to the European semester process and budgetary policies of Romania and the UK are also on the agenda.

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