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European Commission

May 2020: International Tax Planning Review

Aggressive tax planning: the European Commission gives recommendations to six Member States The European Commission has issued recommendations to the EU Member States, six of which have been advised to enhance countering ‘aggressive’ tax planning.     The aggressive tax planning holds an intermediate position between allowable tax planning and tax evasion (and cannot be equated

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Several EU Member States have been warned of non-compliance with 5th Anti-Money Laundering Directive

The report on infringements of different EU acts committed by some Member States has been published on 14 May 2020 in the website of European Commission. Such infringements include non-compliance of national anti-money laundering and combating terrorist financing (AML/TF) legislation of several Member States with the requirements of the EU Directive 2018/843, which is applicable

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Panama

Cayman Islands, Panama and Seychelles added to the EU “blacklist”

18 February 2020 the European Commission has published an information about the regular update of the “blacklist” of non-cooperative jurisdictions for tax purposes. This time it was decided to list 4 new jurisdictions. In February 2020 Cayman Islands, Palau, Panama and Seychelles have been added to the “blacklist”. As a result, the current version of

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EU warns several Member States of need to reform their anti-money laundering legislation

EU warns several Member States of need to reform their anti-money laundering legislation

On 12 February 2020 the information that European Commission has sent formal written notices to some Member States warning on non-compliance of their national anti-money laundering and terrorist financing (AML/FT) legislation with current European standards established by EU Directive 2018/843 and other acts has appeared. According to European Commission, the legislation of the following states does

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