East West Manufacturing’s Post

The #UNtaxCommittee meeting has just ended (earlier than planned). In this final session, Annex I (proposed outline and modalities) and Annex II (proposed modalities for multi-stakeholder engagement) have been adopted. While there has been no discussion on Annex II, the following items have been added to Annex I: - Given the importance of international tax cooperation, every reasonable effort should be made within the available time frame for negotiation to seek consensus on substantive matters in the Ad Hoc Committee. (proposed by the Chair) - To ensure inclusive participation, member states and other relevant stakeholders are encouraged to provide financial support for developing countries for in-person attendance. (proposed by Colombia) - Considerable importance should be placed on ensuring the transparency of the Committee's work. (proposed by the UK) If you have any further questions about these items, please do leave a comment, and I will be happy to elaborate more based on the meeting that I followed. Other than that, here is the link to the recording: https://lnkd.in/eyEh3cQJ

Today I gave the opening speech at "A Reboot for Europe," an event organized by Comeos, focusing on the EU's internal market. I was also very pleased to reunite with former Prime Minister Sophie Wilmès.   The internal market is a tremendous source of growth but also a real source of problems for our companies:   ◾ Daily Benefits & Persistent Barriers: EU companies benefit from free movement of goods, services, people, and capital, yet face numerous obstacles, like varying VAT compliance rules and the lack of mutual recognition of professional qualifications. ◾ National vs. EU Regulations: Despite EU harmonization, national-level discrepancies and protectionist measures still hinder cross-border activities, impacting competitiveness. ◾ Inconsistency in Belgium:  Variations in how EU directives are applied across Belgian regions add another layer of complexity for businesses.   VBO FEB emphasizes the single market's potential in our EU elections memorandum, advocating for a competitiveness pact to boost the European economy and our businesses.   VBO's EU memoradum👉 https://lnkd.in/emWMPtPg   We recently discussed these challenges with Enrico Letta, anticipating his forthcoming report on improving the internal market.

At the opening of the seminar on New rules for global tax cooperation, Buenos Aires, Argentina, organized by Global Alliance for Tax Justice (GATJ) and Red de Justicia Fiscal de América Latina y el Caribe: "To address the crises we face, we must reinvent our tax systems to: 1. contribute to a care economy, 2. advance climate action, 3. decolonise by repairing & redressing, 4. allow & encourage public participation." - Nathalie Beghin, @justiciafiscal

Our EOFY Newsletter is out! 📢 Don't miss out: https://lnkd.in/gidsZvkc From essential Tax Tips tailored for #EOFY2024 to a downloadable guide on Smart Tax Planning and key updates for businesses – we've got you covered. Check out our latest insights from major international events,🌏 and special announcements. 🎉 Subscribe at the bottom of the page➡️ https://lnkd.in/gm7xAdz3 -- #EOFY2024 #EOFYNewsletter #Subscribe

🎆 Good morning and Happy New Year! Our newsletters are back after a two-week break. To kick off 2024, we take a look at how last year went and what challenges lie ahead for Brazil. Brazilian President Luiz Inácio Lula da Silva’s first year in office can be summed up in three main themes: rebuilding the #institutional pact created by the 1988 Constitution (which had been chipped away by four years of Jair Bolsonaro), much better-than-expected #economic results, and a rocky relationship with Congress (which may be the new norm). 🧨January 8 riots: The year began with a bang. Just one week into Lula’s new term, hordes of far-right radicals stormed and ransacked the buildings housing Congress, the Supreme Court, and the presidential offices. The riots followed months of crescendoing radical demonstrations by supporters of former President Jair Bolsonaro, who lost the 2022 election by a razor-thin margin and never officially recognized the results. 💼Fiscal framework: In his attempt to remain in office for another four years, Mr. Bolsonaro disregarded Brazil’s governance principles and left the public accounts in chaos. In March 2023, Lula’s Finance Ministry unveiled a #FiscalFramework that would bring some control to #spending while trying not to hamper #investment in key areas such as #health and #education. 🫰Social spending: In line with his beliefs, Lula moved to stimulate the #economy by increasing Brazilians’ #purchasing power. His government increased #welfare payments and the federal minimum #wage. Despite a positive 2023, the year that begins now brings many #challenges for Brazil. Read more in our full newsletter by Gustavo Ribeiro here 👇 https://lnkd.in/dESEs5JE #Brazil2023 #NewYearReflections #ChallengesAhead 🇧🇷✨

Don't miss the chance to delve into international tax matters and network with experts at IFA USA's 52nd Annual Conference in New York on March 21-22. Be part of the conversation with Kevin Jacobs as he shares insights on International M&A trends. Secure your spot now! https://okt.to/mMABSP #IFA #InternationalTax

Explore international tax topics and network with industry experts at the IFA USA's 52nd Annual Conference in New York on March 21-22. Join Kevin Jacobs as he discusses the latest trends in International M&A. Register now! https://okt.to/5jaNyT #IFA #InternationalTax

Don't miss the chance to delve into international tax matters and network with experts at IFA USA's 52nd Annual Conference in New York on March 21-22. Be part of the conversation with Kevin Jacobs as he shares insights on International M&A trends. Register now if you will be in the area! https://okt.to/e76g9a #IFA #InternationalTax

Ursula von der Leyen has been confirmed for a second 5-year term at the head of the European Commission. Requiring a simple majority of 361 votes in the European Parliament, she secured the support of 401 MEPs ( 284 against), a far greater margin than she secured first time around in 2019. Her pitch included: ✅Earmarking a Vice Presidential role in her new team for #Implementation & #Simplification to drive through the deepening of the #SingleMarket called for by Enrico Letta ‘s report & the #competitiveness agenda to be fully fleshed out shortly in the #Draghi Reporr ✅Overhauling #Competition rules by adopting a new approach to mergers to allow EU companies to develop & compete globally ✅”Staying the course” on the #GreenDeal whilst acknowledging the need for address #affordability for business through the creation of an “EU Competitiveness Fund”. ✅Creating a “Single Market for #Defence” & a specific Commission portfolio with a commitment to incentivise private investment through the European Investment Bank (EIB). Projects of Common European Interest including a European Air Shield & #cyberdefence, would be fleshed out in a forthcoming White paper. ✅Creation of portfolio on #Housing She sets out her detailed proposals presented to Parliament in the attached document “EUROPE’S CHOICE: Political Guidelines for the next European Commission 2024-2029 ➡️ https://lnkd.in/dg4uFriE In addition to solid support from the vast majority of MEPs from the 3 parties European People's Party Socialists and Democrats Group in the European Parliament Renew Europe her renewed commitment to the #GreenDeal appeared to bear fruit in the shape of support from the European Greens The Commission President-elect will now send official letters to the 27 members of the Council of the European Union inviting heads of government to put forward their candidates for European Commissioner posts. The European Parliament will then organise #confirmationhearings with nominees in the relevant & newly constituted Committees as of September.

🚀 Exciting times in #Strasbourg as the 10th European Parliament Legislature kicks off! The newest cohort of #MEPs has hit the ground running, voting in key leadership roles. 🌍 🎉 Congratulations to Ursula von der Leyen, who has been confirmed for another 5 years as European Commission President with a solid 401 votes - a significant improvement from her narrow majority in 2019! Supported by a coalition of #SD, #Greens, #Renew, and #EPP. A 40 vote majority suggests limited support from the #ECR group. 👏 Kudos to European Parliament President Roberta #Metsola, re-elected with an impressive 562 votes out of 720 MEPs. Expect a power-sharing arrangement with the S&D, setting the stage for an S&D MEP to take the presidency after Metsola's term. 🔜 Next week, the action moves to #Brussels for a committee session where Committees will elect their Chairs and Vice-Chairs. Notably, Bernd Lange of the S&D is set to continue as Chair of the International Trade Committee for a third term, ensuring steady leadership in trade matters. Stay tuned for more updates as the 10th Legislature continues to shape Europe's future! 🌟 Our team at the Israel Trade Mission to the EU remains committed to closely monitoring regulatory and policy developments. Follow us for updates, and don’t hesitate to contact us for further information. #EuropeanParliament #EP10 #Leadership #EUPolitics #Trade #INTA #EUCommission #Policy #Governance #VdL Ami Levin Lena Zeiger Yasmin Azhari Foreign Trade Administration - Ministry of Economy & Industry