The European Commission presented today an Action Plan to fundamentally reform corporate taxation in the EU. The Action Plan sets out a series of initiatives to tackle tax avoidance, secure sustainable revenues and strengthen the Single Market for businesses.
Mr. Gurría was in Riga to attend ECOFIN and meet with several high-level officials.
Mr. Gurría exchanged views with members of the European Parliament Committee on Economic and Monetary Affairs and met with Mr. Klaus Welle, Secretary-General of the European Parliament.
The OECD Secretary-General Gurría welcomed the announcement and congratulated the Commission for the work done. "The European Commission’s initiative is another major step to tackle corporate tax avoidance.
Low oil prices and monetary easing are boosting growth in the world’s major economies, but the near-term pace of expansion remains modest, withabnormally low inflation and interest rates pointing to risks of financial instability, according to the OECD’s latest Interim Economic Assessment.
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The global economy continues to run at low speed and many countries, particularly in Europe, seem unable to overcome the legacies of the crisis. With high unemployment, high inequality and low trust still weighing heavily, it is imperative to swiftly implement reforms that boost demand and employment and raise potential growth.
How can governments ensure that migration and free movement of workers contribute to meeting the labour market shortages that are expected to arise over the next 50 years? How can societies better use the skills of their migrants? What lessons can non-European OECD countries offer Europe, particularly regarding labour migration management? “Matching economic migration with labour market needs” addresses these questions.
The EU Single Market remains fragmented by complex and heterogeneous rules at the EU and national levels affecting trade, capital, including foreign direct investment, and labour mobility.
Action taken by many European countries to return their public finances to health are beginning to pay off, says the OECD. The Euro area economies which emerged from the crisis with serious current account deficits are now in surplus. Debt-to-GDP ratios are stabilising and market tensions have abated.
After five years of work at every level to correct the fiscal, financial and external imbalances that led to the crisis, and to reinforce fiscal and financial institutions, the Euro Area is beginning to show signs of recovery. But, despite these positive signs, growth is still weak and uneven.