Finance minister Tanczos Barna will participate in the Economic and Financial Affairs Council meeting in Brussels on Tuesday, according to Ministry representatives.

According to information published on the European Council website, the important points on the agenda concern: Competitiveness and improving the business environment; Cooperation in the tax field (DAC 9); Russia’s aggression against Ukraine; International meetings – G20; Recovery and Resilience Mechanism; Financial services; Taxation.

Thus, the Commission will present the Omnibus package to ministers. The objective is to contribute to achieving a reduction in administrative burdens of at least 25%, and for small and medium-sized enterprises (SMEs) of at least 35%.

„Ministers will have the opportunity to continue their exchange of views on competitiveness, simplification and improving the business environment in Europe,” emphasises the same source.

The Council also aims to reach a political agreement on the Directive on Administrative Cooperation in the field of taxation (DAC9). The DAC9 proposal is closely linked to the 2022 Second Pillar Directive, which aims to ensure a global minimum level of taxation for multinational enterprise groups and large domestic groups in the EU.

Regarding Russia’s aggression against Ukraine, ministers will exchange views on the state of play regarding the economic and financial impact of the aggression, including the implementation of sanctions, with a particular focus on their practical application in the customs area.

The president of the Council and the Commission will also inform the Council on the main outcomes of the G20 meeting of finance ministers and central bank governors of February 26-27, 2025. The Council will instruct the Economic and Financial Committee to prepare the EU G20 mandate and the statement to the IMF, in view of the G20 meeting of finance ministers and central bank governors of April 23-24 and the IMF Spring Meeting.

At the meeting, ministers will review the implementation of the Recovery and Resilience Facility (RRF), and the Council is to adopt implementing decisions approving the amended recovery and resilience plans submitted by some member states.

In addition, the presidency will present the current state of legislative proposals on financial services, and the Commission will inform the Council on the implementation of financial services legislation, as part of its biennial exercise.

The Council will be invited to approve conclusions on fiscal consolidation and simplification in the tax area, as well as to formally adopt the package on VAT in the digital age, which was agreed in November last year.

AGERPRES