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Financial investigations should become a horizontal, cross-cutting priority in order to combat all forms of organised crime. This is one of key points of Council conclusions on the enhancement of financial investigations, which were approved on 17 June 2020.Considering that the proceeds of …

On 2 June 2020, the Council adopted conclusions on the structure and rates of excise duty applied to manufactured tobacco. The Council recognises that the current provisions of the legal framework, i.e., Directive 2011/64/EU, have become less effective, as they are either no longer …

On 2 June 2020, the Council approved conclusions on the future evolution of administrative cooperation in the field of taxation in the EU. The Council calls on the Commission to propose an update on the current legal basis, which is framed by Directive 2011/16/EU. A …

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 …