Taxing the multinationals - EUbusiness Week newsletter 663

Publisher's Note

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.
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Regards,

Nick Prag
Publisher, EUbusiness

1. ECB unveils new liquidity measures to boost bank lending

The European Central Bank unveiled on Thursday a package of new liquidity measures in a bid to boost ailing bank lending in the euro area.
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ECB cuts inflation forecasts

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.
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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.
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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.
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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.
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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.
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Inside the EU Institutions

Council Watch

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.
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Palestinian premier reassures EU, UN over new government
Obama urges Scotland to stay British, UK in EU
Council ...

Commission Watch

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.
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Albania backed for EU candidate status
EU candidates must show 'credible' reforms: Fuele
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Parliament Watch

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.
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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.
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EU diary

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
Long-term diary

Other news on EUbusiness this week