Pierre Gramegna, Luxemburg Finance Minister, and Croatian Finance Minister Maric Zdravko with Finance and Financial Services Minister Edward Scicluna (Photo: Ray Attard)
“Malta welcomes the European Green deal which is intended to synergise the economy, the environment and society”, said Finance and Financial Services Minister Edward Scicluna while intervening during the ECOFIN Council, which was held in Brussels. Minister Scicluna further noted, however, that the adoption of this strategy may be burdensome on some member states. Minister Scicluna highlighted the industries of aviation and the maritime sectors which may be affected by fuel taxation, as an example.
The minister argued for adequate support to ensure that no countries are disadvantaged by this transition.
The European Green Deal is a proposal by the European Commission aimed at tackling climate change. It outlines the EU’s roadmap towards a carbon-neutral economy across the European Union member states by 2050.
The ECOFIN Council also discussed the recent developments at OECD level on digital taxation. On digital taxation, the Finance Minister stated that, “we are seeking a balance between tax avoidance and double taxation and indeed even tax certainty. We are talking about a global issue namely corporate taxation, which of its nature cannot be decided unilaterally no matter the justification. Like a round of trade negotiations, a global taxation agreement needs time to mature and cannot be rushed.”
The Minister for Finance and Financial Services was accompanied by Malta’s Permanent Representative to the EU Daniel Azzopardi and Permanent Secretary Alfred Camilleri.