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On 18 June 2020, the plenary of the European Parliament set up a standing subcommittee on tax matters. It is a subcommittee to the Committee on Economic and Monetary Affairs. It will focus particularly on the fight against tax fraud, tax evasion, and tax …

On 8 May 2020, the Commission proposed the postponement of the entry into force of two EU taxation measures that are also designed to fight tax evasion/avoidance. This move comes in the wake of the difficulties that businesses and Member States’ administrations are currently facing …

On 11 June 2020, the European Court of Auditors (ECA) provided information on an upcoming audit on the effectiveness of the EU’s anti-money laundering policy in the banking sector. The audit follows plans by the Commission, the Council, and the European Parliament to review and …

Alongside a refined methodology for identifying third countries with strategic deficiencies in their AML/CFT frameworks (high-risk third countries → related link), the Commission adopted a new list of these countries on 7 May 2020. The list is a last resort for the EU, but required …

By means of the Staff Working Paper SWD(2020) 99 final) of 7 May 2020, the Commission presented a refined and more transparent methodological approach by which to identify high-risk third countries with strategic deficiencies in their regime on anti-money laundering and countering terrorist financing. The …

EU action against money laundering and terrorist financing must be ambitious and multifaceted. This is the main line of argumentation in the Commission Action Plan for a comprehensive Union policy on preventing money laundering and terrorist financing (Communication C(2020) 2800 final). The Action …

Following its roadmap “towards a new comprehensive approach to preventing and combating money laundering and terrorism financing” of February 2020 (see separate news item), the European Commission put forward a series of further measures on 7 May 2020. They are designed to step up …

On 5 June 2020, OLAF reported on the meanwhile “fifth edition” of the operation Silver Axe. It led to the seizure of 1346 tons of illicit and counterfeit pesticides. The operation was coordinated by Europol and OLAF and involved police, customs, and plant protection …

The Italian Guardia di Finanza caught a consignment of nearly 55,000 cigarettes destined for entry into the EU black market in a seizure coordinated by OLAF. OLAF received information from Turkish Customs about a suspicious convoy with a significant quantity of cigarettes, which was …

In May/June 2020, committees of the European Parliament discussed several reports on artificial intelligence. These reports include:Draft report with recommendations to the Commission on a civil liability regime for artificial intelligence (rapporteur Axel Voss (DE/EPP));Draft report on intellectual property rights for the development …