Under the Single Supervisory Mechanism, the ECB is the direct supervisor for the largest 113 euro area banks. Next week, the ECB will decide whether it continues its recommendation to supervised entities not to distribute dividends and buy back shares during the pandemic. The ECB had first issued such a recommendation on 27 March 2020. […]
Towards a CRS 2.0: My action plan for greater tax transparency
Dear friends and all those who are interested, Yesterday, I have had the pleasure and privilege to speak on a panel on tax transparency at the OECD Global Forum, moderated by OECD tax chief Pascal Saint-Amans. Over the past 10 years, the leadership of the OECD, made possible by American enforcement measures, has been a […]
The OECD Global Forum: Extending the automatic exchange of information on tax matters
Dear friends and all those who are interested, The OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes starts on Wednesday, December 9. The Global Forum comprises over 160 member states and is the most important international institution in the fight against tax evasion and aggressive tax avoidance. The three-day conference will […]
Success for more transparency: Single Resolution Board will publish new aggregate data
Dear friends, Dear interested, During the last exchange in ECON with SRB chair Elke König, I reached a small but interesting step towards more transparency in European banking resolution. Much of the work of Europe’s banking resolution authority, the Single Resolution Board (SRB), is notoriously opaque. The resolution plans of the large European banks and […]
Webinar “EU Taxation & COVID-19: will the Portuguese presidency of the EU take up the challenges?” – Tuesday, 8/12/2020, 7-9pm CET
Recording here: Dear friends, dear interested, In just a month, Portugal will take over the presidency of the Council of the European Union from Germany. In the area of taxation, the German presidency was completely unwilling to bring public tax transparency for multinational companies (public country-by-country-reporting) to a vote and thus blocking this important proposal. […]
Ursula von der Leyen refuses consistent action against EU visas for sale
European civil rights are for sale through golden passports and golden visas. After the economic crisis, Cyprus and Malta started to grant citizenships for money. In Cyprus, an investment of 2 million euros in a property or a company and the deposit of 200,000 euros in two state funds is enough. Since 2013, golden passports […]