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09.07.2024 - Article

The Finance Department has the following responsibilities:

European financial policy:

  • Joint Economic and monetary policy (e.g. Stability and Growth Pact, Recovery and Resilience Facility (RRF), EU-coordination of economic policies via e.g. the „European Semester“).
  • Economic situation of the EU and the euro area
  • Horizontal financial issues

European tax policy:

  • Direct taxation: in particular taxation of savings and company taxation Indirect taxes, in particular VAT, excise duty, energy tax
  • Cooperation between tax administrations of the Member States

European budgetary policy:

  • Annual budgetary procedure
  • Financial Regulation
  • Multiannual Financial Framework (MFF)
  • Own Resources System
  • Budgetary Control issues
  • Protection of the financial interest of the EU

European customs policy:

  • EU customs legislation and policy
  • Cooperation between customs administrations of the Member States

Carbon Border Adjustment Mechanism

European financial market policy (Financial Services Unit):

  • Horizontal questions related to the regulation of financial services and the integration of financial markets in the EU
  • Financial stability
  • Sustainable finance and digital finance
  • Regulation and supervision in the area of banking, insurance, securities and asset management
  • Legislation on payments
  • Anti-money laundering (AML) and countering the financing of terrorism (CFT) and other forms of financial crime
  • Relations with third countries in the field of regulation and supervision of financial services (equivalence)

Head of Finance Department: Heike Nortmann

Head of Financial Services Unit: Sebastian Thomasius


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