Taxing the multinationals - EUbusiness Week newsletter 663
EUbusiness Week 663 top stories: ECB unveils new liquidity measures to boost bank lending; France falls short on deficit, EU warns, must do more; EU greenhouse emissions fall more than expected; China in 'massive' violation of EU solar panel deal; US Internet access ahead of EU in key areas: study; Inmarsat unveils in-flight wifi plans for Europe
The Commission showed it is serious about the issue of transfer pricing
when it adopted this week a Communication on the work of the Joint
Transfer Pricing Forum (JTPF). Cross-border transactions within
multinationals are a major concern for tax authorities, as firms set
arbitrary transfer prices with the aim of reducing taxable profits.
Shifting profits from high-tax countries to lower tax ones reduces a multinational's overall tax and is a major problem in Europe. The JTPF is likely to propose improvements to guidelines set up to avoid arbitrary pricing on transfer pricing documentation for associated enterprises in the EU.
1. ECB unveils new liquidity measures to boost bank lending
2. France falls short on deficit, EU warns, must do more
The EU has warned France that its efforts to cut its budget deficit were
only partly on track and it would have to do much more to free up its
struggling economy. The advice was part of the EU's raft of
recommendations on how the Member States manage their economies.
Lithuania nears euro entry in step towards West
3. EU greenhouse emissions fall more than expected
The Union's greenhouse gas emissions fell more in 2012 than previously
estimated, according to new data released by the European Environment
Agency on Tuesday.
4. China in 'massive' violation of EU solar panel deal
Chinese solar panel makers are in "massive violation" of a settlement
between China and the EU that ended a bitter trade feud last year, says a
key European lobby.
5. US Internet access ahead of EU in key areas: study
A study disputing findings that the US lags in Internet speeds says that
Americans have better access to broadband than most Europeans.
6. Inmarsat unveils in-flight wifi plans for Europe
British satellite operator Inmarsat intends to help air passengers to
stay in touch during flight in the European Union, it announced on
Thursday, taking a lead from a boom in the United States.
Inside the EU Institutions
Top jobs: a bitter row over the top EU job escalated Thursday after
German Chancellor Angela Merkel and British Prime Minister David Cameron
had what officials called "candid" talks on the hotly-debated issue.
Palestinian premier reassures EU, UN over new government
Obama urges Scotland to stay British, UK in EU
President: Luxembourg's former premier Jean-Claude Juncker is confident
that he will be elected president of the Commission, despite opposition
from some countries, including France, German newspaper Bild reported.
Albania backed for EU candidate status
EU candidates must show 'credible' reforms: Fuele
Groupings: two Nordic anti-immigrant parties whose MEPs have criminal
convictions will join a eurosceptic group led by British and Polish
conservatives in the Parliament.
Anti-EU party targets first seat in British by-election
Golden Dawn in protest at Greek parliament
When MEPs take up their duties in the new Parliament on 1 July, one of their first tasks will be to see which EP committees they will join. This will determine in which field they will focus most of their efforts. Committees play an essential role in policy-making, responsible for drafting Parliament's positions on new legislative proposals.
10 Jun: Brussels Economic Forum 2014
10-11 Jun: Mediterranean City 2014
11 Jun: Workshop of the Ocean Energy Forum
12 Jun: Environment Council
13 Jun: Transport, Telecommunications & Energy Council
The Week Ahead
Other news on EUbusiness this weekEU urges Israel to 'reverse' plans for new settlements 5-Jun
Kosovo holds snap election in crucial test for PM 5-Jun
EU offers to hold Ukraine donor talks in July 4-Jun
Spain gets EUR 10m from EU to fight illegal immigration 3-Jun
EU urges Bulgaria to suspend Sth Stream pipeline project 3-Jun
Hungary escalates aid row with Norway, raids NGOs 3-Jun