Agenda of the EU Economic and Financial Affairs Council, 5 November 2024

VAT in the digital age

The Council will seek a political agreement on a package of legislation on value added tax (VAT) in the digital age. The package consists of three proposals that set out to tackle VAT fraud, support businesses and promote digitalisation.

Recovery and Resilience Facility

Ministers will take stock of the implementation of the Recovery and Resilience Facility (RRF).

The Council is expected to adopt implementing decisions approving modified recovery and resilience plans, submitted by some member states.

A recovery plan for Europe (background information)

Russia’s aggression against Ukraine

Ministers will be informed of the state of play of the economic and financial impact of Russia’s aggression against Ukraine.

EU solidarity with Ukraine (background information)

Annual reporting

The Council will hold an exchange of views on the 2024 annual report of the European Fiscal Board (EFB) in the presence of the EFB Chair, Niels Thygesen.

EU statistics

The Council will approve conclusions on the progress made on the EU’s statistical priorities, while providing guidance for further work. As a point without discussion, the Council will also adopt a regulation that aims to further improve the development, production and dissemination of European statistics.

International meetings

The Council and Commission will debrief ministers on the main results of the G20 finance ministers and central bank governors meeting that took place on 23-24 October 2024 in Washington.

G20 website 

Climate finance

The Council is expected to publish the 2023 international climate finance figures.

Financing the climate transition (background information)

COP29 website 

Financial services

The Presidency will present the state of play of legislative proposals in the field of financial services. Ministers will also be informed of the state of play in implementing EU legislation in the field of financial services. These are recurrent items on the ECOFIN agenda.

As a point without discussion, the Council will adopt two pieces of legislation that change the Solvency II directive, the EU’s main piece of legislation in the insurance area, and introduce new rules on insurance recovery and resolution (IRRD).

Digital finance (background information)

Capital markets union (background information)

Practical information