Text · Comparison of two versions

Changes from plenary report to adopted text

A-10-2026-0169 → TA-10-2026-0248

From: A-10-2026-0169 Plenary report of 11 Jun 2026
To: TA-10-2026-0248 Adopted text of 7 Jul 2026
Changes: 10 changes to the text
Paragraphs: +4 added · −17 removed · 16 changed

More facts (3)

Dossier: 2024/2117(INI)
Title (from): on a coherent tax framework for the EU's financial sector
Title (to): A coherent tax framework for the EU’s financial sector

Dossier: 2024/2117(INI)
Title (from): on a coherent tax framework for the EU's financial sector
Title (to): A coherent tax framework for the EU’s financial sector

What changed, in short Written by AI from the official text — check the source · deepseek-v4-flash · 4 Sept 2026

The adopted text removes a paragraph on regulatory arbitrage and profit shifting, and rewrites another to attribute fragmentation to the financial crisis and sector-specific taxes.4 5 It also drops specific VAT reform options, adding instead a requirement to safeguard consumers and ensure fair contributions.9 Other changes are formal or wording: corrected typos, removed footnote numbers, and rephrased sentences without altering substance.1 2 3 6

The notes class 3 changes as substance, 5 as formal, 2 as wording only.

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Changes that matter, 10

Changes to the text in document order — the ones the change notes describe. Cover page, renumbering and punctuation-only edits are left out (see “Every difference”); changes to citations and references stay in and are marked as formal in the notes.

Change 1

ChangedG. whereas, according to Eurostat data, the financial sector is a significant component of the EU’s economy, generating around EUR ~~0.9~~0,9 trillion in value added in 2022, employing nearly 5 million people and recording a net turnover of approximately EUR ~~2.4~~2,4 trillion; whereas the sector contributes to public finances through corporate taxation, payroll taxes and sector-specific levies; whereas the EU financial sector plays a central role in financing the real economy, supporting innovation and facilitating investment;

Note on change 1 · formal Written by AI from the official text — check the source · deepseek-v4-flash · 4 Sept 2026

Replaces decimal commas with decimal points in the figures for value added and net turnover.

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Change 2

ChangedH. whereas recent initiatives such as Council Directive 2025/50 of 10 December 2024 on faster and safer relief of excess withholding ~~taxes7~~taxes (FASTER Directive) have made significant progress in reducing administrative burdens and facilitating cross-border economic activity in the EU, and similar efforts should continue in order to further strengthen the integration and efficiency of the single market;

Note on change 2 · formal Written by AI from the official text — check the source · deepseek-v4-flash · 4 Sept 2026

Removes a stray footnote reference number after 'withholding taxes'.

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Change 3

ChangedI. whereas the Council has been delaying a decision regarding the Commission proposal for a Directive establishing a Head Office Tax system for micro, small and medium sized enterprises, and amending Directive 2011/16/EU, while Parliament already approved a legislative resolution on 10 April ~~20248;~~2024;

Note on change 3 · formal Written by AI from the official text — check the source · deepseek-v4-flash · 4 Sept 2026

Corrects a typo in the date, changing '20248' to '2024'.

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Change 4

Changed1. Notes that ~~the EU-wide VAT exemption for financial services has resulted in a VAT policy gap; highlights that in~~following the ~~absence of VAT revenues from~~great financial ~~services,~~crisis, Member States have introduced 91 sector-specific taxes to tax the financial sector ~~and mitigate these revenue losses,~~, resulting in a highly fragmented tax landscape; notes that this fragmented tax landscape generates additional operational and administrative costs and increases structural barriers to the cross-border expansion of financial services providers, thus weakening the EU’s financial sector and its investment capacity and undermining the objectives of the SIU and the Banking Union;

Note on change 4 · substance Written by AI from the official text — check the source · deepseek-v4-flash · 4 Sept 2026

Rewrites the paragraph to attribute fragmentation to the financial crisis and sector-specific taxes, rather than the VAT exemption, and adds a reference to the SIU.

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Change 5

Removed2. Highlights that fragmented tax rules across Member States and the high mobility of the financial sector’s tax base create significant opportunities for regulatory arbitrage and capital and profit shifting, hinder cross-border activities of financial institutions and reduce the efficiency and resilience of the EU’s banking and capital markets;

Note on change 5 · substance Written by AI from the official text — check the source · deepseek-v4-flash · 4 Sept 2026

Deletes a paragraph on regulatory arbitrage and profit shifting from fragmented tax rules.

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Change 6

Changed8.7. Emphasises that the insufficient data on the effective tax burden across the EU financial sector obstructs evidence-based policymaking and the assessment of policy impacts on market behaviour, competition and financial stability; underlines the need for improved transparency and ~~data~~better ~~collection~~use of existing data as a prerequisite for coherent reform of financial sector taxation;

Note on change 6 · wording only Written by AI from the official text — check the source · deepseek-v4-flash · 4 Sept 2026

Rephrases the call for improved data collection to emphasize better use of existing data.

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Change 7

Changed~~10.~~9. Notes that, according to the Commission’s 2026 European Macroeconomic ~~Report9,~~Report, the EU household saving rate remains well above the average of the countries of the Organisation for Economic Co-operation and Development; regrets that around one third of these savings are invested outside the EU, which shows the shortcomings of the EU financial framework in retaining investment; calls on the Commission to assess how tax measures can encourage investment to flow towards the EU; underlines the importance of discouraging financial outflows towards countries on the EU list of non-cooperative jurisdictions;

Note on change 7 · formal Written by AI from the official text — check the source · deepseek-v4-flash · 4 Sept 2026

Removes a footnote reference number after 'Macroeconomic Report'.

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Change 8

Changed~~18.~~17. Notes that repeated Commission initiatives, including its 2007 proposals and the 2020 inception impact assessment, did not result in a reform of the VAT exemption for the financial sector because Member States failed to reach a unanimous agreement; notes that the Commission most recently intended to publish amendments to the VAT ~~Directive10~~Directive in early 2023; observes that these plans were stalled, leaving this essential reform still pending;

Note on change 8 · formal Written by AI from the official text — check the source · deepseek-v4-flash · 4 Sept 2026

Removes a footnote reference number after 'VAT Directive'.

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Change 9

Changed~~27.~~26. Calls on the Commission to review the impacts of the current VAT regime on the financial sector and to publicly share this analysis; calls on the Commission to consider policy options to address identified distortive ~~impacts, like more effective VAT grouping and options for reforming the VAT exemption, with a view to bringing forward a proposal to reform the VAT rules for the financial sector;~~impacts; emphasises that any such reform should reduce irrecoverable VAT and the fragmented application of rules, improve legal certainty and tax fairness, and strengthen the competitiveness of EU financial markets, while safeguarding financial stability and minimising regulatory arbitrage between Member States; emphasises that any such reform must also safeguard consumers and continue to ensure that the financial sector makes a fair contribution to public revenues;

Note on change 9 · substance Written by AI from the official text — check the source · deepseek-v4-flash · 4 Sept 2026

Drops the specific policy options for VAT reform and adds a requirement to safeguard consumers and ensure fair contributions.

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Change 10

Changed~~31.~~30. Recalls that the EU faces a significant investment gap of EUR 750 to 800 billion annually as regards meeting its climate, digital and strategic autonomy objectives; recalls the commitment of the Member States and the EU to substantially increase European defence investment; emphasises that in order to respond to these challenges, fair and more coherent taxation of the financial ~~sector, that reflects both value creation and negative externalities,~~sector could contribute to mobilising private capital, thus stimulating retail investment, and to strengthening European capital markets, while raising revenue for public investment for strategic priorities, and our social, climate and investment needs, therefore strengthening the EU’s competitiveness;

Note on change 10 · wording only Written by AI from the official text — check the source · deepseek-v4-flash · 4 Sept 2026

Simplifies the description of the financial sector's taxation, removing the reference to value creation and negative externalities.

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Sources & citation

Where the facts on this page come from, and how to cite it.

Permalink: https://news.eu-parl.st-solutions.dev/texts/A-10-2026-0169/compare/TA-10-2026-0248
Data source: European Parliament Open Data
Licensed CC BY 4.0.
Retrieved: 25 September 2026

Cite as

European Parliament (2026). “Changes between A-10-2026-0169 and TA-10-2026-0248”. Text, 7 July 2026. from A-10-2026-0169, to TA-10-2026-0248, reference 2024/2117(INI). EU Parl Watch Research. https://news.eu-parl.st-solutions.dev/texts/A-10-2026-0169/compare/TA-10-2026-0248 (retrieved 25 September 2026). Data: European Parliament Open Data, https://data.europarl.europa.eu/ (CC BY 4.0).

BibTeX

@misc{epw-text-2026-07-07,
  author = {{European Parliament}},
  title = {{Changes between A-10-2026-0169 and TA-10-2026-0248}},
  year = {2026},
  date = {2026-07-07},
  howpublished = {\url{https://news.eu-parl.st-solutions.dev/texts/A-10-2026-0169/compare/TA-10-2026-0248}},
  url = {https://news.eu-parl.st-solutions.dev/texts/A-10-2026-0169/compare/TA-10-2026-0248},
  urldate = {2026-09-25},
  publisher = {EU Parl Watch Research},
  note = {Text. from A-10-2026-0169, to TA-10-2026-0248, reference 2024/2117(INI). Data: European Parliament Open Data (CC BY 4.0)}
}