ECOFIN has requested the Commission to conduct an assessment of all patent boxes in the EU, including those already assessed or considered before, by the end of 2014. This assessment should take into consideration international developments, including those in relation to the OECD's BEPS initiative. Member States covered by the assessment process are the United Kingdom, Belgium, Cyprus, Spain, France, Hungary, Luxembourg, Malta, The Netherlands and Portugal.

Speaking on ECOFIN’s request to the Commission to start a broad assessment of all Patent Boxes in the EU, Commissioner Šemeta said “Member States' tax incentives should never be used to lure profits away from where they should rightfully be taxed. We must verify that the principles of fair play are not being undermined. However, we will begin our assessment immediately, and expand it further as Member States clarify the criteria for certain elements. I remain hopeful that a full evaluation will be delivered to Finance Ministers by the end of this year, as they requested last December.”

For details of June ECOFIN meeting, see the Commission’s website.