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News from EU, Accountancy Europe – October 2024

By October 31, 2024No Comments

European Commission

Key tax priorities for the new European Commission

European Commission’s (EC) re-elected President Ursula von der Leyen announced the portfolio allocations for Commissioner nominees and outlined her expectations in ‘mission letters’ on 17 September.

VDL has appointed Wopke Hoekstra from the Netherlands as the new Commissioner for taxation and climate, combining both portfolios under one person. Green tax measures are likely to feature prominently on the agenda, as in her mission letter to Hoekstra, VDL has, for example, asked him to focus on the following initiatives:

  • ensuring that the EU tax system supports Europe’s competitiveness, prosperity and social fairness
  • helping to conclude negotiations on the Energy Tax Directive (ETD)
  • considering strategic use of tax to incentivise uptake of clean technologies, and
  • considering ways to further green the VAT system

Other familiar tax initiatives featured in Hoekstra’s mission letter include the fight against tax avoidance and evasion, and identifying solutions for a “coherent tax framework for the EU’s financial sector”. Moreover, all Commissioner nominees – including Hoekstra – have been tasked with cutting administrative burdens on companies. For example, VDL calls on all the nominees for a 25% reduction in reporting burdens, with a 35% reduction specifically for SMEs.

The next EC may also focus on developing new ‘EU own resources’ (i.e., pan-EU taxes) to collect funds for Europe’s massive investment needs into its digital and sustainable transitions, improve its productivity, respond to global challenges etc. In this light, the Polish Commissioner nominee Piotr Serafin is of interest as his portfolio includes leading work to introduce new EU own resources.

Commissioner nominees will face European Parliament (EP) hearings from November 4-12, with the new EC potentially starting its work in December. Any delays, such as a candidate rejection by the EP, could push the start to 2025.

European Parliament

New Tax Commissioner nominated, pending confirmation by the European Parliament

Other news

Post-Master EU VAT (in English) – EFS, Erasmus University Rotterdam