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europe Information on Brexit
As of 1 February 2020, the United Kingdom (UK) is no longer a member of the European Union (EU). The agreed transition period ended on 31 December 2020. The EU and the UK concluded a comprehensive Trade and Cooperation Agreement on 24 December 2020, opening a new chapter in EU-UK relations. The agreement was reached after less than a year of intensive negotiations, during which time the EU and …
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europe Brexit and financial markets
How does Brexit affect the financial market? The Trade and Cooperation Agreement covers financial services in the same way as they are generally covered in the EU’s other free trade agreements with third countries. In particular, both parties have committed to keeping their markets open for operators from the other party seeking to supply services through establishment.
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europe Brexit and taxation
What are the tax implications of Brexit? Germany adopted the Tax Act Relating to Brexit (Brexit-Steuerbegleitgesetz), which was intended to prevent detrimental legal consequences occurring solely as a result of Brexit for taxpayers who have completed all essential tax-relevant actions prior to the UK’s departure from the EU.
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europe Brexit and Customs
How does Brexit affect customs? The customs administration thoroughly prepared for Brexit in terms of staffing, IT-assisted customs clearance and awareness-raising among companies. The aim was to ensure that it had the resources and staffing needed to continue performing its tasks as effectively as possible post-Brexit.
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ECOFIN ECOFIN Council: Press conference with Olaf Scholz
Following the virtual meeting of ECOFIN ministers on 16 March 2021, Finance Minister Olaf Scholz provided an overview of the outcomes. One of the main agenda items was the EU’s retail payments strategy. On this subject, Minister Scholz stated: “Today we agreed on Council conclusions for the EU’s retail payments strategy. This step underscores our ambition to ensure the EU’s digital sovereignty. …
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Europe #EuroABC: European financial policy from A to Z
Who attends ECOFIN Council meetings? What do the abbreviations SURE, MFF and FTT stand for? What rules does the Tax Act Relating to Brexit contain? Our #EuroABC provides easy-to-understand explanations of key terms in the sometimes complicated world of EU finances, along with the fiscal policy priorities of the German Presidency – all from A to Z.
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Europe #EuropeCounts: European financial policy in numbers
A unified Europe benefits Germany and the other EU countries in a number of ways. This is true for each state as a whole as well as for all of the EU's citizens, who reap these benefits in their everyday life. Our #EuropeCounts section presents examples small and large which all add up to a clear conclusion: the EU is of immense value. It is our common task to protect it and to create even more …
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eurogroup Doorstep by Olaf Scholz prior to the virtual Eurogroup meeting
Prior to the Eurogroup meeting on 15 February 2021, German Finance Minister Olaf Scholz reported on the agenda of the virtual meeting of euro area finance ministers. Topics on the agenda included the economic situation and the international role of the euro.