EC to Disallow Smaller Member States to Veto Certain Directives
After several weeks of bad feedback in all areas regarding the Automatic Exchange of Information (5MLD), the European Commission is looking at proposals in order to allow any further tax policy decisions to be made by qualified majority voting only, as opposed to requiring 100% agreement by all Member States.
The EC’s fixation with coming together in accordance has allowed certain smaller Members to veto any tax Directives deemed to put themselves at a disadvantage. The proposal is likely to be met with strong scepticism by smaller governments such as Luxembourg, when it will be discussed at the EU summit in May later this year. The consultation period for majority voting will end this month on January 17th 2019.