Dear friends and all those who are interested, It is painful to watch: In times of empty coffers due to the Corona crisis, the Member States are letting billions slip through their fingers because they are not consistently cooperating on a European level in tax matters. It is still far too easy to hide income […]
Strong call from the European Parliament to improve cooperation in tax matters – not only in the digital realm
Yesterday evening (Wednesday 10 March), the European Parliament adopted a strong parliamentary position for greater cooperation in tax matters by a large majority. 568 MEPs voted in favour of the report yesterday. The 63 votes against were cast primarily by MEPs from the right-wing “Identity and Democracy” group and the “European Conservatives and Reformists”. In […]
Anti-Money Laundering Directive: infringement proceedings against Germany are justified
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 […]
We need to ensure a level playing-field on financial services post-Brexit: our letter to the Commission
Dear friends and all those who are interested, The Brexit deal reached on Christmas Eve was a great relief, followed by a rather rude awakening: our preliminary analysis suggests that the draft agreement could open the door for accelerated tax competition between the UK and the EU. For this reason, Philippe Lamberts, the Co-President of […]
EIOPA report on insurance rules: Denial of reality regarding interest rates and government bonds continues
EIOPA has today published its opinion on the upcoming review of the European insurance rules called Solvency II. The European Commission is planning to propose amendments to the current regime in summer 2021 and had asked EIOPA for a broad assessment of the current framework. The rules have significant consequences for the stability of the […]