Tax & Accounting Blog

European Commission Issues Economic Policy Recommendations

Blog, Indirect Tax, Sales and Use Tax, Tax Information Reporting June 3, 2014

The European Commission released policy recommendations on Monday June 2, 2014  for 26 EU member states. The recommendations are designed to strengthen the economic recovery of the last year, and include country-specific recommendations. The Commission identifies areas of progress including an expectation that all EU economies will grow in 2015, an overall improvement in public finances with 6 countries advised to exit the Excessive Deficit Procedure, and the success of reform measures in the most economically vulnerable countries. The Commission recommends the continuation of key structural reforms including measures to tackle high unemployment, inequality and poverty as well as shifting tax burdens from labour to property, consumption and environmental taxes.

The recommendations are scheduled to be adopted by the EU’s Council of Finance Ministers on July 8. 2014.