The European Commission named and shamed seven EU Member States for facilitating tax avoidance on Wednesday. The European Semester country reports published on Wednesday signaled Belgium, Cyprus, Hungary, Ireland, Luxembourg, Malta and the Netherlands. Country reports underscored so-called “tax planning schemes,” that is, a byword for tax-avoidance. The European Commission also released a study that clearly delineates the criteria for the evaluation of member state tax policies. Source: New Europe
Egypt is working on a new model for future oil and natural gas production contracts in undeveloped areas to spur exploration and help become self-sufficient in energy, oil ministry and company officials said. Source: Bloomberg
“Turkey will not allow unilateral activities [in the Eastern Mediterranean]. We need to protect the rights of Turkish Cypriots with actual steps,” Çavuşoğlu said at a symposium entitled “Law and Politics in the Eastern Mediterranean” at Ankara University. Source: Hurriyet Daily News
The US has said it intends to negotiate three separate trade agreements with Japan, the UK and the EU. It could take several months before the negotiations begin, it said. The move is part of US President Donald Trump’s efforts to reshape trade policies to support his “America First” agenda. Source: BBC
