On 7 March 2016, Insurance Europe published a position paper on the European Commission's anti-tax avoidance package, which includes a proposed Anti-Tax Avoidance Directive (the ATA Directive).  Insurance Europe comments on issues it views as important to the insurance sector. Amongst other matters, it calls for external and intra-group hybrid regulatory capital to be exempted from any additional tax burden.  It also points out that, while the OECD BEPS recommendations included a "Public Benefit Project" relief (which would benefit insurers investing in certain such projects), the proposed ATA Directive does not include this.