- Details
On February 28, 2017 the Members of the European Parliament’s Committee on Economic and Monetary Affairs and of the Committee on Civil Liberties, Justice and Home Affairs voted on a Draft Report on the proposal for a directive of the European Parliament and of the Council amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing and amending Directive 2009/101/EC as prepared by Krišjānis Kariņš and Judith Sargentini as well as on proposed amendments to the report.
EU citizens could access registers of beneficial owners of companies without having to demonstrate a “legitimate interest,” and trusts would have to meet the same transparency requirements as firms, under amendments, agreed by Committees on February 28, 2017, to the EU Anti-Money Laundering Directive.
The amendments, agreed by the Economic and Monetary Affairs and Civil Liberties committees, would plug gaps in the EU’s framework legislation against money laundering and terrorism financing. They would also introduce stricter transparency rules to prevent tax evasion. The amended report was passed by 89 votes to 1, with 4 abstentions.
- Details
On February 28, 2017 the New Zealand Inland Revenue issued a press release announcing that the legislation introduced on 8 August 2016 in the Taxation (Business Tax, Exchange of Information, and Remedial Matts) Bill received Royal assent on February 21, 2017. The new Act is now available on the New Zealand Legislation website. Furthermore the New Zealand Inland Revenue has published Special Reports, drafted by the New Zealand Inland Revenue, providing early information on: measures to implement the G20/OECD standard for the automatic exchange of information, and a suite of simplified business tax processes, including a new way for businesses to pay their provisional tax.
- Details
Yesterday we and our 6-year-old daughter visited the Carnaval parade in our hometown. Our daughter was flabbergasted by a simple magic trick with a piece of rope that one of the participants of the parade conducted. At home I told my daughter that the trick was quite straightforward, and that there are more difficult tricks that one can understand how the performer can pull them off. And that once there was one trick in particular that still intrigues me although years have gone by since I saw it on TV for the first time. This is David Copperfield’s trick in which he makes an airplane disappear. Funny enough a day later I read the following press release that the Austrian Ministry of Finance issued on February 23, 2017.
- Details
As we already reported earlier, the Chairman of the European Parliament’s Committee of inquiry to investigate alleged contraventions and maladministration in the application of Union law in relation to money laundering, tax avoidance and tax evasion (Hereafter: PANA) has published information requests which he has sent to the Governments of the EU Member States. In his letter the Chairman of PANA requests the highest political level of responsibility of each respective EU Member State to provide PANA with information about the relevant national legal definition(s) of tax-related crimes, about the organization of tasks between the national administrations and the judiciary and about staff resources and working methods, as well as about the results achieved to date.
- Details
On February 27, 2017 the Singaporean Ministry of Finance issued a press release announcing that on March 14, 2017 the Agreement between the Republic of Singapore and the Oriental Republic of Uruguay for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income and on Capital, which was concluded on January 15, 2015 (Hereafter: the DTA), will enter into force on March 14, 2017.
Page 1 of 5
