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23 Nov
European Union budget 2023

Council gives go-ahead to EU budget for 2023

Yesterday (22 November 2022), the Council approved the joint text on the EU’s general budget for 2023 which it had agreed in negotiations with the European Parliament on 14 November. The required qualified majority for the approval was reached today, this means that the Council gives the go-ahead to the EU’s budget for 2023. The […]

07 Nov

EU tax and social contribution revenue up in 2021 (Eurostat)

In 2021, revenue from taxes and social contributions increased by €520 billion in the EU compared with 2020, to stand at €6 058 billion. This information comes from data on taxation published by Eurostat The overall tax-to-GDP ratio, meaning the sum of taxes and net social contributions as a percentage of gross domestic product (GDP), […]

25 Oct
directive minimum wages

Directive EU 2022/2041 on adequate minimum wages, released today in OJEU

Directive 2022/2041 of the European Parliament and of the Council of 19 October 2022 on adequate minimum wages in the European Union has been released today (25 October) in Official Journal of the European Union (OJEU). Entry into force and scope This Directive shall enter into force on the twentieth day following its publication in […]

25 Oct
directive minimum wages

Government debt down to 94.2% of GDP in euro area in second quarter of 2022

Government debt down to 94.2% of GDP in euro area in second quarter of 2022, according to the last figures released by Eurostat. At the end of the second quarter of 2022, the government debt to GDP ratio in the euro area stood at 94.2%, compared with 95.2% at the end of the first quarter […]

24 Oct
directive minimum wages

In 2020, almost 2.7 million non-fatal work accidents resulted in workers being absent from work for four days or more in the EU

According to Eurostat figures, in 2020, almost 2.7 million non-fatal work accidents resulted in workers being absent from work for four days or more in the EU, while 3 355 work-related accidents were fatal. Almost all the sectors of the economy recorded fewer accidents in 2020 compared with 2019, except for the health sector. This […]

20 Oct
gender balance directive

Council approves EU law to improve gender balance on company boards

The Council (17 October 2022) gave its final go-ahead to EU rules to promote more balanced gender representation on the boards of listed companies. 40% / 33%  The directive, which will have to be transposed into national law, lays down that at least 40% of non-executive director positions in listed companies should be held by […]

07 Oct
directive minimum wages

77% of EU companies sourcing abroad do it in the EU (Eurostat figures)

In the last two decades, many European enterprises have engaged in international sourcing, which refers to the cross-border movement of jobs previously performed domestically, within the enterprise. Enterprises may engage in international sourcing for various reasons, such as cost reduction or to increase competitiveness (Eurostat figures) Eurostat’s experimental statistics on Global Value Chains (GVCs) and […]

06 Oct
directive minimum wages

Taxation: Anguilla, The Bahamas and Turks and Caicos Islands added to EU list of non-cooperative jurisdictions for tax purposes

The EU continues to promote fair tax competition and address harmful tax practices. The Council yesterday (5 October 2022) decided to add Anguilla, The Bahamas and Turks and Caicos Islands to the EU list of non-cooperative jurisdictions for tax purposes. With these additions, the EU list now consists of 12 jurisdictions: American Samoa Anguilla The Bahamas Fiji […]

04 Oct
directive minimum wages

Council adopts EU law on adequate minimum wages

The Council of the EU today (4 October 2022) gave its final green light to a directive that will promote the adequacy of statutory minimum wages and thus help to achieve decent working and living conditions for employees in Europe. The directive establishes procedures for the adequacy of statutory minimum wages, promotes collective bargaining on […]

28 Sep
directive minimum wages

European Central Bank (ECB) boss pledges to MEPs to fight inflation and restore confidence

The European Central Bank  (ECB) President announced future interest hikes, while MEPs voiced concerns about rising energy and food prices, and mortgage rates. Yesterday (27 September 2022), during the third hearing this year with the European Central Bank President Christine Lagarde, MEPs in the Economic and Monetary Affairs Committee discussed how to avoid fragmentation between […]

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Sincro’s blog is designed to provide daily information on labour, fiscal and economic news. We do not provide free advice nor do we answer personalized queries that come to us through the blog. If you need advice, do not hesitate to contact our Team of Experts to request a quote.

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