European Union (EU) Archive

Von der Leyen Biden EU IRA Visit & Competitiveness
March 9, 2023
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TweetShareSharePin0 Shares The President of the European Commission, Ursula von der Leyen, will meet with President Biden in Washington, D.C., on Friday to discuss ways to maintain transatlantic leadership in clean tech. President Leyen’s trip across the Atlantic comes on the heels of a virtual meeting between Treasury Secretary Janet Yellen and European Commission Executive

EU Digital Tax & Global Tax Deal | EU Digital Levy
March 8, 2023
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TweetShareSharePin0 Shares At a recent G20 meeting of finance chiefs, French Finance Minister Bruno Le Maire declared that the chances of Pillar One succeeding are “slim” and therefore “a digital tax should be extended to the European level as soon as possible.” This analysis of Pillar One’s status is not surprising, and Le Maire’s reaction

2023 VAT Rates in Europe | EU VAT Rates
January 31, 2023
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TweetShareSharePin0 Shares More than 170 countries worldwide—including all European countries—levy a Value-Added Tax (VAT) on goods and services. As today’s tax map shows, EU Member States’ VAT rates vary across countries, though they’re somewhat harmonized by the European Union (EU). The VAT is a consumption tax assessed on the value added in each production stage

Jacques Delors’ EU Single Market & Tax Policy
January 19, 2023
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TweetShareSharePin0 Shares On 1 January 1993, the European Union launched the Single Market by abolishing border controls between EU Member States and ensuring the free movement of people, goods, services, and capital (otherwise known as the EU’s four freedoms). Thirty years later, the liberal economic principles that have driven the EU Single Market’s success are

US-EU Tax & Trade Issues in 2023 | Transatlantic Trade
January 12, 2023
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TweetShareSharePin0 Shares There are many changes coming to Washington, D.C., now that Republicans have taken control of the U.S. House of Representatives. Uncertainty surrounds President Biden’s ability to pass his economic agenda through a divided Congress and few can predict the path U.S. tax policy will take at home or abroad. However, despite a bleak

VAT Gap – Value-Added Tax Expansion and Labor Tax Cuts
January 10, 2023
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TweetShareSharePin0 Shares Key Findings The value-added tax (VAT) is a major source of revenue for EU countries and is one of the EU’s own resources. For Member States, it represents on average 17.8 percent of their total tax revenue. For the EU, VAT revenue represented roughly 7.5 percent of its total revenue in 2021. While

Is There an End in Sight?
December 21, 2022
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TweetShareSharePin0 Shares Since 2018, the tax world has seen multiple rounds of proposals to change how digital companies are taxed. The most common, the Digital Services Tax (DST), popped up as a European Commission directive and then made its way into the national laws of multiple countries across the globe. Ongoing international tax negotiations were

CBAM | EU Carbon Border Tax: Details & Analysis
December 20, 2022
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TweetShareSharePin0 Shares Last week, the European Union approved the world’s first Carbon Border Adjustment Mechanism (CBAM). Well, in name anyway. The mechanism is a key aspect of the EU’s broader Fit for 55 package which aims to cut 55 percent of net greenhouse gas (GHG) emissions in the EU by 2030. It’s also a foundational

Future of Tobacco Taxation in Europe
December 5, 2022
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TweetShareSharePin0 Shares Later this week, the European Union is expected to release a new Tobacco Tax Directive, the first update in more than a decade. Early reports indicate that the EU will propose a significant increase to the existing minimum cigarette tax rates levied across the Union and expand the product categories that are taxed,

EU Subsidies & Inflation Reduction Act
November 30, 2022
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TweetShareSharePin0 Shares French President Macron is coming to Washington, D.C., this week to ask President Biden the question on the minds of European leaders: “Why did you do this to us?” When President Biden signed the Inflation Reduction Act into law, he put many European companies at a disadvantage unless they move production to the