On 7 November 2014, the Economic and Finance Ministers Council of the EU (ECOFIN) met in Brussels to discuss several key topics, including:

• The introduction of a binding anti-abuse clause in the EU's parent-subsidiary directive, including a common EU "de minimis" rule and allowing Member States to apply stricter national rules as long as they meet minimum EU requirements - final agreement on the clause should be reached at a meeting scheduled for 9 December 2014
• The introduction of a financial transaction tax (FTT) in 11 EU Member States, including a minimum 0.1% tax rate for transactions in all types of financial instruments, except for derivatives that would be subject to a minimum 0.01% tax rate - additional work is needed for the FTT, with the goal of implementing a first phase of the tax from 1 January 2016
• The introduction of a standard VAT return to reduce burdens on businesses, particularly SMEs - no particular time frame was set

Additional information can be found in the ECOFIN Press Release 15211/14.