News

EU Directive 2018/822: Mandatory Cross-Border Disclosure Regulations

Tax transparency has been the topic of many discussions of the minute internationally as all eyes are watching for the EUs next move following the introduction of Europewide anti-avoidance and transparency measures.


TAX3 Update: MEPs Push for Financial Police Force in Europe

Following continued revelations over the last five years (the Panama Papers, Luxleaks and the Paradise papers to name a few); the European Parliament have decided to establish a Special Committee to take positive action to reduce financial crimes, tax evasion and tax avoidance within Europe. As part of the TAX3 decision, which was created last year in March 2018.


EU parliament Votes to Repeal to EU Golden Visa Schemes

EU thinktank TAX 3 Committee have suggested a number of significant improvements to which the European Parliament have voted overwhelmingly in favour of. One of which being the most controversial legislation amendments in the financial sphere at the moment: the phasing out of EU Member States investment-based citizenship and residency schemes.


EC to Establish New Data Exchange for Citizenship-by-Investment Schemes

The European Commission’s enquiries into citizenship-by-investment programmes are still on-going, as new agreements seem closer to establishing an automatic exchange of applicant data between European Members into practice.


Details of the Fifth Anti-Money Laundering Directive

The European Parliament last week voted with a landslide of approvals regarding the final wording of the Fifth Anti-Money Laundering Directive, supporting the multilateral agreement reached between Member States' ministers in December last year.


Fifth Anti-Money Laundering Directive Ready to be Implemented within Europe

The European Parliament last week voted with a landslide of approvals regarding the final wording of the Fifth Anti-Money Laundering Directive, supporting the multilateral agreement reached between Member States' ministers in December last year.


EC launches VAT reform consultation

The EC has launched a consultation regarding reforms surrounding EU legislation governing VAT rates.


US criticises EU's strict treatment of American companies in Europe

The US Treasury has criticised the European Commission's (EC) policy of penalising American multinational companies for avoiding tax via state aid deals with individual EU member states.


Country-by-Country Reporting to be established by 2017 in all EU jurisdictions

All companies within the EU with total income of over €750m will be obligated to send all data concerning monthly revenue, profits, tax paid, earnings, all tangible assets and the total number of people employed by the company.


The EU lost $1B to fraudulent claims in 2015

Last year, figures have been released showing that approximately $1 billion of EU funds were paid out to fraudulent Claimants, with the highest number of false claims suspected coming from Hungary, Bulgaria and Romania data within Europe.