Minister for Finance, Edward Scicluna, has told EU Finance Ministers that while Malta sees the OECD work made in the area of taxation in a positive light and is studying its outcomes, it harbours concerns on the appropriateness of rigid rules for all.

 

 

Minister Scicluna made these comments at a Ministerial meeting of the Economic and Financial Affairs Council (ECOFIN) in Brussels earlier today Tuesday 8th December 2015. He told EU Ministers that the OECD has recognised that the flexibility which is allowed by the OECD recommendations must be retained by the European Commission when it issues its proposals on BEPS. “Those OECD recommendations provide for a multitude of options and this, in itself, should indicate the way forward”.

 

PRESS RELEASE ISSUED BY THE MINISTRY FOR FINANCE

Malta was alone in proposing the inclusion of a “common yet flexible approach” in the Council Conclusion on BEPS.

 

 

On the Council Conclusion on the Code of Conduct, with respect to the reference to the effective level of taxation within the EU, Malta together with Ireland and Cyprus obtained a consensus for the inclusion of an amendment whereby national competences on the matter will be retained.

At the end of the meeting, Minister Scicluna stated: “I am extremely satisfied that an acceptable compromise was found in both instances; for this we are grateful to the Presidency”.

 

 

On Monday Minister Scicluna also attended a meeting of the Eurogroup which discussed the implementation of Greece’s economic adjustment programme, amongst other issues. For the meetings, the Minister accompanied by Ambassador Marlene Bonnici, Permanent Representative of Malta to the EU, and the Permanent Secretary in the Ministry for Finance. Mr Alfred Camilleri.

 

   

– Tuesday, 8th December, 2015