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In July 2021, the European Commission tabled a proposal to establish a new EU authority to counter money laundering and the financing of terrorism (AMLA). This was part of a legislative package aimed at implementing the 2020 action plan for a comprehensive Union policy on preventing money laundering and the financing of terrorism. The AMLA would be the centre of an integrated system, composed of the authority itself and national authorities with an AML/CFT supervisory mandate. It would also support ...

Blockchain and its applications, in particular cryptocurrencies, have grabbed the headlines, but many people still do not know how they work. This briefing provides an overview of the uses and challenges of this technology, based on published information. Blockchain originated as part of the enabling digital ledger technology (DLT) developed at the end of the 20th century. DLT works as a digital database containing information (as a record book or ledger) that can be simultaneously used and shared ...

At a time when global and cross-border crises are highlighting the interconnections between health, environment, peace, food security and energy sufficiency, notions such as externalities, public goods and biodiversity boundaries are gaining renewed interest, as a strong grasp of the various aspects of challenging situations becomes essential to help frame policy responses. The notion of externalities is about asking whether all elements have been accounted for in price setting. When this is not ...

L’adaptation des systèmes fiscaux à la mondialisation et à la numérisation fait l’objet de débats et de réformes au sein des instances internationales et de l’Union depuis quelques décennies. L’un des objectifs est de garantir que les grandes entreprises multinationales paient un niveau minimum d’impôts sur les bénéfices réalisés dans chacune des juridictions où elles exercent une activité. Au niveau mondial, un accord a été conclu en octobre dernier au sein du cadre inclusif de l’Organisation de ...

The coronavirus pandemic and its financial and economic consequences have caused a major economic downturn, and the European Union (EU) has moved rapidly to respond with monetary and fiscal policy measures. The fiscal policy instruments deployed include the adaptation of State aid rules to the exceptional circumstances to allow Member States to support their economies by means of direct or indirect intervention. From a competition law point of view, measures that constitute State aid are in principle ...

The need to do more to mitigate climate change resulting from emissions of greenhouse gases (GHGs), in particular in terms of pricing, is widely accepted. Several countries around the globe are either planning to implement or have introduced carbon-emission pricing measures (i.e. taxing or internalising negative externalities), with varying scope (upstream, downstream), coverage (sector exclusions) and boundaries (subnational or national areas). The objective is to reduce emissions in line with medium-term ...

Parmi les mesures visant à promouvoir un changement vers des choix plus respectueux de l’environnement figure la fiscalité environnementale, en complément des autres instruments disponibles pour effectuer l’adaptation nécessaire pour faire face aux défis environnementaux et climatiques. La fiscalité environnementale, dans son principe, a pour but d’inclure dans les prix le coût des atteintes à l'environnement (dites externalités négatives) afin de réorienter vers des choix de production et de consommation ...

Les modifications apportées au cadre réglementaire en matière de taxe sur la valeur ajoutée (TVA) pour le commerce électronique ont instauré le principe de destination pour les transactions transfrontières entre professionnels et consommateurs (B2C). L’identification des entreprises en ligne qui fournissent des biens et des services à des clients établis dans d’autres États membres sera essentielle pour garantir le respect des règles en matière de TVA et lutter contre la fraude à la TVA dans le domaine ...

Broadly speaking, 'tax havens' provide taxpayers, both legal and natural persons, with opportunities for tax evasion or avoidance, while their secrecy and opacity also serves to disguise the origins of the proceeds of illegal and criminal activities. One might ask why establishing a list of tax havens or high-risk countries is useful. Drawing up such lists began with action to end harmful tax practices arising from the discrepancy between the global reach of financial flows and the geographically ...

Action to fight corporate tax avoidance has been deemed necessary in the OECD forum and has received further impetus through the G20/OECD Base erosion and profit shifting action plan (known as BEPS). The 2015 BEPS action plan has 15 actions, covering elements used in corporate tax-avoidance practices and aggressive tax-planning schemes. The implementation of the BEPS action plan was designed to be flexible, as a consequence of its adoption by consensus. Recommendations made in BEPS reports range ...