Significant progress has been made in recent years on a global minimum tax and the taxation of the digital economy. Further expansion of global agreements to tax high-net-worth individuals and finance sustainable development has been initiated by both the OECD and the UN under the guidance of the G20. However, the adoption of these decisions has faced roadblocks.
In light of geopolitical realities, how can global cooperation be ensured to build an effective and fair global tax system—one that incentivises private investment and enhances the financial sector’s ability to convert savings into risk capital? Can tax policy help reduce red tape?
The EU budget requires a major revamp to align with new European priorities. While the debate largely focuses on spending, tax revenue at both national and EU levels is equally important. Whether the EU intends to finance European public goods directly or considers issuing joint debt, credible revenue sources are essential. Despite numerous proposals from the Commission, the current revenue structure has remained largely unchanged.
Exploring new (or existing) Own Resources and reconsidering national budget contributions will be key to ensuring sustainable EU finances. Unanimity rules in taxation make meaningful decisions difficult, yet the prospects of a Treaty change remain remote. Beyond the question of ‘what’ should change in EU taxation, the challenge lies in ‘how’ to implement it.
This event seeks to understand how unlocking political decision-making may require a mix of legislative initiatives and soft cooperation. A ‘coalition of the willing’ could also emerge as a way forward.
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The Economic and Monetary Union Laboratory (EMU Lab) is a collaborative initiative driven by the Tommaso Padoa-Schioppa Chair and the Pierre Werner Chair, aiming to reassess the Economic and Monetary Union's structure in light of current European and global economic conditions.