On 19 June, the European Commission published its “Withholding Taxes” proposal. The EC has also invited stakeholders to provide feedback on the proposal until 14 August.
The initiative will follow the consultative procedure (CNS), meaning that the European Parliament (EP) will have a consultative role only. The Council has no obligation to take the advice of the EP into account. Adoption by the Council will require unanimity.
The secretariat of Insurance Europe will perform an initial assessment of the proposal and highlight potentially relevant aspects. In the meantime, members are invited to analyse the proposal, providing the secretariat with:
- preliminary views on the proposal;
- views on the need for a common Insurance Europe response to the feedback consultation.