Economic and Financial Affairs Council, 21/03/2017 - Main results
Economic and fiscal policy
The Council discussed the implementation of country-specific recommendations under the 'European Semester', focusing on the reform experiences in this area in the member states. This gave rise to an exchange of views on how these experiences have impacted on the business environment.
“The only way for countries to overcome 'reform fatigue' is to have feedback from other member states on how they managed to undertake reforms in a more positive manner”, said Edward Scicluna i, minister for finance of Malta, which currently holds the Council presidency. “The presentations in today's Council have achieved this objective”.
G20 meeting
Ministers discussed the outcome of a meeting of G20 finance ministers and central bank governors held in Baden-Baden on 17 and 18 March 2017, having been briefed by the Maltese presidency, the Commission and the G20 finance ministers' host country, Germany.
The meeting featured discussions on the global economy, a compact with Africa, international financial institutions, taxation, financial regulation, remittances and anti-money-laundering.
It was the first of two such meetings before a July G20 summit in Hamburg.
Value-added tax
The Council discussed a proposal that would authorise non-standard VAT rates for electronic publications and a proposal that would allow for a generalised but temporary reversal of liability as a means of preventing VAT fraud.
The first proposal provides for the possibility to align the rules for e-publications - which are currently taxed at the standard VAT rate - on those for 'physical' publications, which benefit from a variety of reduced rates. It is part of a broader effort to modernise VAT under the EU's 'digital single market' plan.
The second proposal responds to a request by member states particularly affected by VAT fraud. The 'generalised reverse charge mechanism' would involve shifting liability for VAT payments from the supplier to the customer for domestic supplies above a specified threshold.
Work will continue in the light of ministers' remarks, with the aim of reaching agreement on both proposals.
Meeting information
Meeting n°3527
Brussels
21/03/2017
Preparatory documents
Indicative programme - Economic and Financial Affairs Council of 21 March 2017
Provisional agenda, Economic and Financial Affairs Council, 21 March 2017
List of A items, legislative deliberation, Economic and Financial Affairs Council, 21 March 2017
List of A items, non-legislative activities, Economic and Financial Affairs Council, 21 March 2017
Outcome documents
Press releases
Improved transparency on international energy contracts: stronger energy security
21/03/2017, 10:30
EU digitalises passenger registration to make travelling by sea safer: Council agrees its position
21/03/2017, 10:15
Press information
Press contacts
Press officer
+32 22816083
+32 475953807
If you are not a journalist, please send your request to the public information service.
Photos and videos
Edward Scicluna
Peter Kazmir and Pierre Gramegna
Roundtable
Valdis Dombrovskis
Luis de Guindos, Mario Centeno, and Petteri Orpo
Topics:
Economic and Financial Affairs Council: Other meetings
Last reviewed on 21/03/2017
Is there something wrong with this page?
Give feedback
Your comment Your comment is required.
This field should not have been filled.
Send
I accept the privacy statement
Please agree to terms and conditions
Close Save changes