Search Results for: European commission
Cyprus: Haircut battle due to kick off within weeks
January 4th, 2016
A GRAND Chamber comprising 15 judges of the European Court of Justice (ECJ) will hear a number of appeals brought by Cypriot bank depositors, who lost their money in the March 2013 ‘haircut’ against the European Commission and the ...
Single Resolution Mechanism to come into effect for the Banking Union
January 4th, 2016
The Single Resolution Mechanism (SRM) will become fully operational on 1 January 2016. The SRM implements the EU-wide Bank Recovery and Resolution Directive (BRRD) in the euro area. The full resolution powers of the Single Resolution Board (SRB) will ...
Apple ‘to pay €318m’ to settle Italy tax fraud case
December 30th, 2015
Apple’s Italian subsidiary has agreed to pay €318m (£235m; $348m) following an investigation into tax fraud allegations, Italy’s tax office says. Italy’s tax authorities say the company failed to pay €880m in tax between 2008 and 2013, according to ...
January 1, 2016: The New Bank Bail-In System Goes Into Effect In Europe
December 30th, 2015
If you have a bank account anywhere in Europe, you need to read this article. On January 1st, 2016, a new bail-in system will go into effect for all European banks. This new system is based on the Cyprus ...
Seven big investment banks in UK paid just $30 million tax in 2014
December 29th, 2015
Seven of the biggest investment banks operating in London paid little or no tax in Britain last year, despite reporting billions of dollars in profits, a Reuters analysis of corporate filings shows. In recent months, the seven investment and ...
Greece: Brussels demands changes in shipping taxation
December 22nd, 2015
The European Commission has called for a radical change in the way shipping firms are taxed in Greece. On Monday Brussels sent a series of proposals to Athens that Greece is expected to adopt so that the country’s law ...
EU To Extend Minimum 15 Percent VAT Rate
December 21st, 2015
The European Commission has proposed that an EU law provision be extended to ensure that member states levy a headline VAT rate of at least 15 percent until December 31, 2017. Article 97 of the EU VAT Directive provides ...
Merkel’s Refugee Mini-Summit Threatens EU Split
December 17th, 2015
German Chancellor Angela Merkel Thursday attended an EU mini-summit on the sidelines of the main European Council meeting of all 28 member states in a move seen by many as a sign of further divisions in Europe. Merkel is ...
EU and WTO partners finalise high tech trade deal
December 17th, 2015
Deal initiated by the EU adds momentum to the multilateral World Trade Organization process happening now in Nairobi. The EU and another 23 members of the World Trade Organization (WTO) today completed a trade deal that eliminates custom duties ...
EU Court Overturns Decision to Fine Airlines in Cartel Case
December 17th, 2015
The European Union’s second-highest court has overturned a decision to impose €790 million ($864 million) of fines on more than a dozen airlines including Air France KLM and British Airways for operating an airfreight cartel. In a statement published ...
