European Commission releases press material for the upcoming G20 summit in Antalya
On November 10, 2015 the European Commission published a brochure titled “Did you know… Facts and figures about the European Union and the G20 – 2015 Turkey G20 Antalya, 15>16 November 2015”.
According to the European Commission, the brochure sets out the European Commission’s aims for the G20 summit. The brochure a.o. contains a paragraph “MOVING FORWARD G20 EFFORTS ON TAX TRANSPARENCY” (See page 14 of the brochure). This paragraph contains a PROPOSAL ON THE AUTOMATIC EXCHANGE OF INFORMATION ON TAX RULINGS presented in a form of a table, which is divided into two columns: 1. current framework and 2. new proposal.
Furthermore according to the brochure “In Antalya, the EU is calling for an ambitious agreement to take further global actions to tackle cross-border tax avoidance and tax evasion, including on the finalisation and implementation through an appropriate monitoring framework of the OECD’s Base Erosion and Profit Shifting action plan (BEPS).” and “As a frontrunner in this area, the EU wishes to set an example and encourage speedy and comprehensive action in the field of BEPS. The European Commission will therefore present initiatives in early 2016 in order to ensure that the OECD BEPS Action Plan is implemented across EU Member States in a coordinated and efficient manner.”
Next to the brochure a joint letter by Commission President Juncker and European Council President Donald Tusk was published. Mr Juncker and Mr Tusk are representing the European Union at the Summit. In the joint letter the key issues that will be discussed at the G20 summit in Antalya are mentioned:
1. The G20 must support a collective response to the refugee crisis
2. The jobs, growth and investment agenda is central
3. Collective efforts are needed to ensure youth employment and social inclusion
4. Moving forward the G20 work on tax transparency
5. The G20 has to provide political momentum for trade opening
6. The G20 should seek a strong outcome in the UN negotiations on climate change
With respect to point 4 the following is stated: “In Antalya, there should be an ambitious agreement to take further global actions necessary to tackle cross-border tax avoidance and tax evasion, including on the finalisation and implementation of the Base Erosion and Profit Shifting action plan (BEPS).
The G20 should in particular show political leadership on the issue of harmful tax competition and the exchange of information on cross-border tax rulings to enhance transparency. The OECD recommendations on the automatic exchange of information on tax rulings have been published. The EU has shown leadership. With its proposal on theexchange of information on cross-border tax rulings of 18 March, the Commission has launched a discussion within the EU on a measure that is consistent with the OECD recommendations but has a wider scope. EU Finance Ministers have reached agreement on this proposed legislation on 6 October. As a front runner in this area the EU wishes to set an example and encourage speedy and comprehensive action in the field of BEPS. We will therefore promote our ambitious approach at the G20 level. The Antalya summit should emphasise the importance of the exchange of information between tax administrations on taxpayer specific rulings”.
Click here to be forwarded to the brochure as published by the European Commission.
Click here to be forwarded to the joint letter as published by the European Commission.
