Europe leading on international talks to make trade easier

April 11, 2016 7:47 PM
Brussels toughens rules on tax havens: The Financial Times' Jim Brunsden (picked up by Politico Morning Exchange): "Under the plans, EU-based companies and subsidiaries with annual turnover over €750 million would publish annually a country-by-country breakdown of profits, tax, employees and net turnover. An earlier draft of the plans seen by the FT limited the disclosure to activities within Europe, allowing companies to aggregate data on taxes paid outside the bloc. The revised version would ensure tax havens are opened to scrutiny": https://dub129.mail.live.com/?tid=cmUpX4irf_5RGNqwAjfePxtA2&fid=flinbox
Sinn Féin MEP Martina Anderson warned Friday of "very serious" consequences for Northern Ireland in the case of Brexit, citing losses of "at least €3.5 billion," reports Politico Morning Trade. Moreover, trade with the South of Ireland "would suffer hugely," causing the North's economic output to decrease by at least five per cent: https://dub129.mail.live.com/?tid=cm2DQcuqT_5RGYBgAjfeP1HA2&fid=flinbox
Rodolfo Nin Novoa, foreign minister of Uruguay, which now leads the South-American trade bloc Mercosur, told Politico Morning Trade that Friday's reunion with [EU Trade Commissioner Cecilia] Malmström "was very constructive" and that they finalized a roadmap for exchanging market access offers - the sticking point to concluding a trade deal: https://dub129.mail.live.com/?tid=cm2DQcuqT_5RGYBgAjfeP1HA2&fid=flinbox
The EU and 22 other WTO members, from South America to the U.S. to East Asia, will launch a 17th round of talks on the Trade in Services Agreement (TiSA) in Geneva, reports Politico Morning Trade. The Parliament set red lines for the Commission in February, demanding more public disclosure, exclusion of public services, and a legal security of European, national and local authorities' right to regulate: https://dub129.mail.live.com/?tid=cm2DQcuqT_5RGYBgAjfeP1HA2&fid=flinbox
EU and U.S. negotiators are rushing to conclude a transatlantic trade pact before President Barack Obama leaves office, but the window of opportunity is ready to close: if there's no result by early next year, the deal risks being delayed another two or three years - or completely falling apart, reports Politico Morning Trade: http://www.politico.eu/pro-free/ttip-last-chance-for-transatlantic-trade-pact-michael-froman-angela-merkel-cecilia-malmstroem/
VAT fraud costs EU taxpayers around €50 billion each year. But now the Commission is clamping down on this racket with an ambitious, if complex, overhaul of the European system. EurActiv France reports: http://www.euractiv.com/section/euro-finance/news/commission-revolutionises-vat-to-tackle-fraud/