Brussels, 14 July 2023
Own resources
The Commission presented its proposal for an adjusted package for the next generation of own resources.
The package includes a new statistical own resource based on company profits. It completes the 2021 Commission proposal which aims to introduce part of the revenues of the Emissions Trading System (ETS) and the Carbon Border Adjustment Mechanism (CBAM) into the own resources system of the EU.
- Financing the EU budget (background information)
- Amended proposal for a Council Decision on own resources
- Watch the public session
EU support to Ukraine
The Council exchanged views on financial support to Ukraine in the context of the mid-term revision of the EU’s long-term budget (Multiannual Financial Framework) and the related proposal to establish the Ukraine Facility.
Ministers expressed strong unanimous support to Ukraine and the Council will proceed with the files as a matter of priority.
The revision of the Multiannual Financial Framework and the proposal for a Regulation on the Ukraine Facility include a financing of €50 billion for 2024–2027, to address Ukraine’s immediate needs, recovery and medium-term reconstruction and modernisation, closely tied to its path towards the EU.
- Long-term EU budget 2021-2027 and recovery package (background information)
- EU solidarity with Ukraine (background information)
- EU response to Russia’s invasion of Ukraine (background information)
- Watch the public session
Customs reform
Ministers exchanged views on the Commission Communication on how to take the customs union to the next level. The Communication forms part of a reform package to modernise the EU Customs Union, that includes three proposals.
Ministers expressed their initial views on the reform’s objectives and their perception on the added value of the proposal’s key measures, such as a complementary EU risk management layer, new rules for e-commerce, a single central data solution, and a new EU Customs governance.
The debate prepared the ground for further discussions and gave political guidance to work at technical level.
Ministers expressed their initial views on the reform’s objectives and their perception on the added value of the proposal’s key measures, such as a complementary EU risk management layer, new rules for e-commerce, a single central data solution, and a new EU Customs governance.
The debate prepared the ground for further discussions and gave political guidance to work at technical level.
- Commission Communication on the EU customs reform: taking the customs union to the next level
- Proposal for a regulation of the European Parliament and the Council establishing the Union Customs Code and the European Union Customs Authority
- Proposal for a Council regulation on the introduction of a simplified tariff treatment for the distance sales of goods and the elimination of the customs duty relief threshold
- Proposal for a Council Directive on VAT rules relating to taxable persons who facilitate distance sales of imported goods
- EU Customs Reform (European Commission)
- Watch the public session
Priorities of the Spanish Presidency
The Spanish presidency presented its priorities in economic and financial affairs for the second half of 2023.
We approach this presidency with stamina and determination, with a very pro-European approach that we have shown since we joined the Union in 1986, and with the goal of closing as many files as possible and contributing to a stronger, more prosperous, and also fairer Europe going forward.
Nadia Calviño, Spanish minister for economic affairs and digital transformation
European semester
The Council approved conclusions on the 2023 in-depth reviews under the macroeconomic imbalance procedure.
Established in 2011, the European Semester enables EU member states to coordinate their economic, fiscal and employment policies throughout the year and address the economic challenges facing the EU.
- Macroeconomic imbalance procedure: Council adopts conclusions (press release, 14 July 2023)
- The European Semester explained (background information)
- Timeline: the 2023 exercise (background information)
Infographic – The REPowerEU plan explained
European economic recovery
The Council exchanged views on the implementation of the recovery and resilience facility. It adopted Council implementing decisions approving amended recovery and resilience plans of France, Malta, Slovakia and Ireland.
The amended plans of France, Malta and Slovakia now include a new REPowerEU chapter. This will contribute to accelerating their transition towards clean energy, diversifying their energy supplies and improving their energy efficiency.
- Recovery fund: Council greenlights updated national plans for France, Malta, Slovakia and Ireland (press release, 14 July 2023)
- A recovery plan for Europe (background information)
- REPowerEU: energy policy in EU countries’ recovery and resilience plans (background information)
International meetings
The Council discussed the preparation of the G20 finance ministers and central bank governors meeting that will take place in Marrakesh on 11–12 October 2023 during the International Monetary Fund annual meetings.
The Council provided guidance for further work on G20 EU terms of reference and the statement to the International Monetary and Financial Committee (IMFC).
The G20 meetings of finance ministers and central bank governors provide a forum for key countries in the international financial system to discuss major international economic issues and to coordinate the global economy’s stable and sustainable growth.
Financial services
Under any other business, the presidency informed ministers on the current proposals in the field of financial services.
- Information on the progress on proposals in the field of financial services
- Digital finance (background information)
- Capital markets union (background information)
- Watch the public session
Reallocation of taxing rights (Pillar 1)
The Presidency updated ministers on the negotiations taking place in the OECD/G20 Inclusive Framework on Base erosion and profit shifting (BEPS) regarding the implementation of Pillar 1 of the ‘Statement on a two-pillar solution to address the tax challenges arising from the digitalisation of the economy’, with a view to signature of a multilateral convention before end of 2023.
The presidency presented to ministers the outcome of the meeting of the OECD/G20 Inclusive Framework on BEPS on 10–12 July 2023, where work on Pillar 1 was brought forward and an outcome statement was agreed in view of the forthcoming G20 Finance Ministers and Central Bank Governors Meeting that will take place on 17–18 July 2023.
- Outcome Statement of the meeting of the OECD/G20 Inclusive Framework on BEPS on 10-12 July 2023
- Commission progress report on Pillar 1
- International taxation: Council reaches agreement on a minimum level of taxation for largest corporations
- Digital taxation (background information)
Meeting information
- Meeting n°3905-1
- Brussels
- 14 July 2023
Preparatory documents
- Provisional agenda
- Provisional list of A items
- Provisional list of A items, addition 1
- List of A items, non-legislative activities
- Background brief
Outcome documents