The European Green Deal is a welcome move but there must be “adequate support” to ensure no country is disadvantaged, Finance Minister Edward Scicluna told counterparts in Brussels.
Addressing the Ecofin Council, Prof. Scicluna argued that the adoption of the strategy aimed at synergising the economy, the environment and society risked being a burden on some member states. As an example, he mentioned the aviation and maritime sectors, which could be affected by fuel taxation.
The European Commission’s Green Deal proposal seeks to tackle climate change and outlines the EU’s roadmap towards a carbon-neutral economy by 2050.
Recent developments at OECD level with regard to digital taxation were also on the agenda of the European economy and finance ministers’ meeting.
An official statement quoted Prof. Scicluna saying that Malta is seeking a balance between tax avoidance and double taxation as well as 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,” he said.