On 14 July 2021, the Commission presented the first series of adopted files under the 'Fit for 55' package. This includes a revision of the Energy Taxation Directive, where Commission encourages Member States - as part of their national recovery efforts - to design appropriate green taxes that can raise revenue and remove fossil-fuel subsidies while ensuring that those who pollute or waste bear the consequences of their actions (the ‘polluter pays’ principle). The primary purpose of environmental tax measures should be to address clearly defined, science-based environmental objectives rather than simply raising revenue. Hence, at AmCham EU we have outlined some key recommendations to ensure that these tax reforms are coherent, pro-growth and avoid inhibiting private sector investment and innovation.
Green taxation
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Harmonising electronic invoicing in the EU
The EU’s e-invoicing landscape is increasingly fragmented, with Member States imposing divergent formats, extra data fields, inconsistent definitions, validation rules and implementation timelines that drive up compliance costs – especially for SMEs – and undermine the Single Market.
Reforming the EU’s e-invoicing landscape is vital to deliver upon the vast simplification potential of VAT in the Digital Age (ViDA) and the Public Procurement Directive revision.
Learn more about why the EU should establish a harmonised, interoperable EU framework for B2G and B2B e-invoicing by mandating the use of a common standard and limited variety of syntaxes, establishing common transmission methods and supporting efficient implementation.
Shaping effective investment screening frameworks with the CELIS Institute
On Thursday, 24 October, Andrew Hill, Senior Policy Adviser, AmCham EU represented the organisation by speaking at the Conference on Foreign Investment Screening, hosted by the CELIS Institute.The discussion focused on the evolving landscape of investment screening in Europe and ways to ensure that the Foreign Investment Screening Regulation best supports Europe’s security. It also highlighted the importance of honing investment screening towards the most risky investments, while creating optimal pathways for cooperation between agencies. Panellists also highlighted the growing need for transatlantic cooperation, the drive toward transparent screening mechanisms and the development of investment screening as a practice, and the future of investment screening in view of economic security.
Strengthening predictability in the draft Foreign Subsidies Regulation Guidelines
The draft Guidelines to the Foreign Subsidies Regulation (FSR) risk broadening the already excessive reach of the FSR and making its application even less certain for industry, adding to already disproportionate costs and complexities for businesses. The Guidelines should take the opposite approach, seeking to clarify unclear concepts related to the FSR’s application, hone its scope to focus only on subsidies with a demonstrable EU nexus and align the FSR’s treatment of foreign incentives with EU State aid rules.
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