The EU Commission has initiated the first stage of infringement proceedings against Germany regarding the implementation of the 4th Anti-Money Laundering Directive. At the same time, proceedings were initiated against Romania and Portugal. So far, Germany has not implemented the directive properly. The transposition deadline expired on 27 June 2017. Other rules of the Anti-Money […]
Tax havens: EU’s procrastination on Turkey is an invitation to evade taxes
The permanent representatives of the EU member states are expected to announce the updated EU list of tax havens tomorrow (17 February). Turkey will receive a further deferral until the end of June 2021 to implement measures for greater tax transparency. The country has long been criticised for not implementing the automatic exchange of tax-related […]
Invitation: Social Economy Intergroup Public Hearing & Webinar on Skills & Digitalisation – Thursday, 18/2/2021 11 am CET
Register here! Dear friends, dear interested, a fair, social and green digital transition is high on the European agenda. In the just signed EU Recovery Plan, 20% of the total 672.5 Billion Euros are earmarked for fostering the digital transition. Social economy can play a major role here. Co-operative solutions can be more effective and […]
Auditor in the Wirecard case: Fatal incentive structures need reform
An investigation by the Handelsblatt shows that the auditors at EY no longer “believed in the innocence of the management” of Wirecard already in early 2019. Previously, incriminating material had been leaked to the audit firm by a whistleblower. Wirecard’s supervisory board also knew about the auditors’ concerns. But EY caved in: Only weeks later, […]
Brexit letter bears green signature: EU economics lawmakers call for improvements
Dear friends, dear interested, The draft Trade and Cooperation Agreement between the EU and the UK must not open the door to tax avoidance and money laundering. The Economic and Monetary Affairs Committee of the European Parliament has reiterated this demand in a joint letter supported by all pro-European political groups. Concretely, we demand that […]
Expert hearing on 23 February: ECON Committee discusses lessons from GameStop
Dear friends, dear interested, The wild rollercoaster ride of the GameStop share and other securities had financial markets hold their breath in recent weeks. Seemingly, retail investors were able to annoy the biggest financial players by joining forces and turning their own tricks against them. Admittedly, I found that kind of cool. But at the […]