European Union News - Internal Market

The European Commission launched two public consultations on specific measures which could improve tax collection - EU Tax Identification Number (EU TIN)- and ensure better tax compliance across the EU - the EU Taxpayer's Code. The consultations will run until 17 May 2013.

Eurostat reported that EU international trade in goods with Ukraine grew strongly from 2000 to 2008, then fell sharply in 2009 before partially recovering between 2010 and 2012. In addition, the largest surpluses in trade with Ukraine in 2012 were observed in Germany and Poland, and the largest deficit in Spain. The figures are published on the occasion of the EU-Ukraine summit that takes place in Brussels on 25 February.

The Joint Research Centre (JRC) Director stressed in a roundtable on "Scientific support to Internal Market" that the JRC stood ready to build on its current research and contribute, along with policy Directorates General, both to short and long term efforts to improve the functioning of the single market.

The European Commission published its winter forecast 2012-14 that shows the contrast between the improved financial market situation and the muted macroeconomic prospects for 2013 is to a large extent due to the balance-sheet adjustment process, which continues to weigh on short-term growth.

The European Parliament and the Council negotiators a political agreement on offshore legislation. Among the points agreed, the directive would require oil and gas firms to submit major hazard reports and emergency response plans and prove their ability to remedy any environmental damage caused, before could get a licence to drill. The European Parliament and Council are expected to formally approve the legislation in the coming months.

On 21 February, the Governing Council of the European Central Bank (ECB) approved the audited Annual Accounts of the ECB for the year ending 31 December 2012. The Governing Council decided to transfer as at 31 December 2012 an amount of €1,166 million to the risk provision, which increased it to the level of its present ceiling of €7,529 million. As a result of the transfer to the risk provision, the ECB’s net profit for 2012 was €998 million (2011: €728 million).

The European Commission presented a strategy aimed at increasing the competitiveness of European maritime technology. The LeaderSHIP 2020 strategy's recommendations range from the wider use of EU instruments to foster new skills, competence and qualifications, to Public Private Partnerships for new maritime research, EIB funding opportunities and smart specialisation strategies in regional policy.