EU finance ministers to meet this evening

Eurogroup finance ministers are to meet in Brussels at this evening ahead of a meeting of the European Union's Council of Economics…

Eurogroup finance ministers are to meet in Brussels at this evening ahead of a meeting of the European Union's Council of Economics and finance ministers tomorrow morning.

Mr Michel Deppler, from the Interational Monetary Fund (IMF), is expected to give an oral presentation on the IMF's views on euro area economic developments. The Economics Commissioner, Mr Pedro Solbes, will present to Ministers the Commission's assessment of the first set of stability programmes.

Mr Solbes will also address the Commission's recommendations for an early warning to France and for the opening of an excessive deficit procedure for Germany.

Ministers are also expected to have a first exchange of views on the recent Commission Communication on strengthening budgetary policy co-ordination.

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Over the two-day meeting, three measures to tackle harmful tax competition and eliminate some of the remaining tax distortions in the Internal Market set up by the Council will be finalised

The tax package consists of:

  • a proposal for a Council Directive to ensure effective taxation of interest income from cross-border investment of savings which is paid to individuals within the EU
  • a Code of Conduct for business taxation
  • the elimination withholding taxes on payments of interest and royalties made between associated companies of different Member States.