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The Euro Plus Pact is intended to strengthen economic policy coordination between Member States with the aim of improving competitiveness and enabling a greater degree of convergence. It was concluded in March by 23 of the 27 Member States (including the 17 countries of the euro area), and remains open for others to join.
The pact includes a specific section on the coordination of tax policies, calling for a structured dialogue between the participating Member States. In June, the European Council called on finance ministers to report back in December on progress made.
The report identifies the following issues to be addressed in the dialogue:
It suggests that these elements serve as a starting point for further work under the pact in the field of taxation. The Council's high-level working group on tax issues will be the focal point for tax policy coordination. It will be responsible for examining recommendations put forward by the Commission and other relevant bodies, for monitoring progress and reporting to the political level.
The work will be taken forward in an inclusive and pragmatic manner, whilst taking into account aspects such as fiscal consolidation and growth.