Opening remarks of the EU Commissioner for Taxation and Customs, Mr. Pierre Moscovici, have been published by the Commission.

In his speech, Mr. Moscovici acknowledged progress achieved on an agreement for the proposed revision of the Parent Subsidiary Directive, although his expectation was that actual agreement would have been reached at the ECOFIN meeting. The Commissioner also appears disappointed at the lack of progress concerning the proposal for a Standard VAT return so it is likely that a renewed attempt a progress may feature at the next meeting.