Time to act on tax evasion - EUbusiness Week newsletter 630
EUbusiness Week 630 top stories: EU to clean up benchmark setting after rigging scandal; Cyprus aims to lift capital controls by 'early 2014'; EU decision on Google verdict 'in coming weeks'; EU to publish results of Gazprom pricing probe by spring; Majority of Latvians oppose joining eurozone; Euroscepticism on the rise in EU: poll
This Week's Top Stories
1. EU to clean up benchmark setting after rigging scandal
2. Cyprus aims to lift capital controls by 'early 2014'
3. EU decision on Google verdict 'in coming weeks'
4. EU to publish results of Gazprom pricing probe by spring
5. Majority of Latvians oppose joining eurozone
6. Euroscepticism on the rise in EU: poll
Publisher's Note
Nearly EUR 193 billion was lost in VAT revenues in 2011 as a result of
non-compliance or non-collection, according to estimates in a new study
on the VAT Gap in Member States.
This difference between expected VAT revenue and what is
actually collected by national authorities amounts to 1.5% of GDP. For
so much to be lost to public finances in the current economic climate
should concern member governments.
The Commission says the report supports its efforts to reform
the VAT system and EU measures to combat tax evasion, as well as its
recommendations for national tax reform. It believes it has identified
solutions to the problem. It is now time for Member States to act.
More ...
Regards,
Nick Prag
Publisher, EUbusiness
1. EU to clean up benchmark setting after rigging scandal
The Commission unveiled plans Wednesday to closely regulate key
financial benchmarks used globally to price loans after a rate-rigging
scandal blew the lid off the clubby world of banking.
More ...
2. Cyprus aims to lift capital controls by 'early 2014'
Eurozone member Cyprus says it expects to lift capital controls in early
2014 after they were imposed to avoid a run on the banks during bailout
negotiations in March.
More ...
3. EU decision on Google verdict 'in coming weeks
The Commission will "in the coming weeks" decide a course of action
following concern that Internet giant Google may be in breach of
anti-trust rules, says the Competition Commissioner.
More ...
4. EU to publish results of Gazprom pricing probe by spring
The EU expects to publish the results of its investigation into
Gazprom's pricing and contract policy by "spring next year", EU energy
chief Guenther Oettinger said Thursday.
More ...
5. Majority of Latvians oppose joining eurozone
A majority of Latvians oppose the country joining the troubled eurozone
in January despite a massive pro-euro media blitz by the government, an
opinion poll showed Thursday.
More ...
6. Euroscepticism on the rise in EU: poll
Euroscepticism is on the rise in Germany, France, Italy and Spain,
according to an opinion poll published by the French daily La Croix.
More ...
EUROPEAN LAW
Trademark: Berlin Zoo will keep the rights to the name of Knut, the
cuddly polar bear that captured hearts worldwide and devastated fans
when he died, an EU court ruled Monday.
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Italian court upholds EUR 500m fine against Berlusconi firm
Hungary criticised for 'cosmetic' constitution changes
Latest Court of Justice judgements
EU Law Firms
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Inside the EU Institutions
Council Watch
Banks: finance ministers discussed Saturday how to close down failing
banks before they damage the wider economy, a divisive issue for those
wary of giving Brussels more power.
More ...
Ukraine approves draft EU association agreement
Anti-euro party could win seats in German vote: poll
Council ...
Commission Watch
Arrest warrant: the EU has warned that it will crack down on newest
member Croatia for dragging its feet to comply with the Union's arrest
and extradition regime.
More ...
EU says Greece making progress, must stick to bailout
Aid partners put up nearly EUR 2 bn for Somalia 'New Deal'
First deadly attack against EU mission rocks Kosovo
Commission ...
Parliament Watch
Le Pen: French far-right leader Jean-Marie Le Pen said on Thursday that
he planned to run in next year's elections to the European Parliament a
month short of his 86th birthday.
More ...
Malala, Snowden named for EU's Sakharov prize
In committee this week, legal affairs MEPs backed a Common European
Sales Law to allow firms to trade more easily in other Member States and
cross-border shoppers to be better informed of their rights; the
special committee on organised crime approved its final report; and
International Trade Committee MEPs warned there would be no EP consent
to EU-China talks on an investment and market access without
transparency.
More ...
EU diary
23 Sep, Agriculture and Fisheries Council
23 Sep-23 Oct, Single Market Month online debate
25 Sep, Opening up Education, an initiative to promote innovative teaching and learning
26-27 Sep, Competitiveness Council
26 Sep, Commission adopts its monthly infringements package
26 Sep, European Day of Languages
The Week Ahead
Long-term diary
RESOURCES
EU Law Firms
Summaries of EU Legislation
EU Decision-Making
Treaties of the European Union
Key EU Legal Terms
Other news on EUbusiness this week
Sanctions lift will expose Mugabe: opposition 19-SepClegg vows to keep Britain engaged in EU, Syria 18-Sep
Armenia divided by choice of Russia over Europe 18-Sep
Eurozone trade surplus up despite growth doubts 17-Sep
ECB renews liquidity swap arrangement with BoE 16-Sep
Finland's debt to breach Maastricht limit 16-Sep