EU updates list of non-cooperative tax jurisdictions

EU Finance Ministers have updated the EU list of non-cooperative tax jurisdictions, based on an intense process of analysis and dialogue steered by the European Commission. The list has proven a true success with many countries having changed their laws and tax systems to comply with international standards. Over the course of last year, the … Continue reading EU updates list of non-cooperative tax jurisdictions

Infringements: Commission adapts its calculation methodology for financial sanctions

Today, the Commission set out how it will adapt its calculation method when proposing financial sanctions to the Court of Justice of the EU in infringement proceedings. Enforcement of EU law by the Commission will continue to be vigorous, balanced and fair to all Member States. When the Commission refers a Member State to the … Continue reading Infringements: Commission adapts its calculation methodology for financial sanctions

A national law cannot invalidate, by a retroactive, general and automatic rule, credit agreements concluded with foreign lenders

In 2007, Ms Anica Milivojević, a Croatian national, concluded with Raiffeisenbank, which has its registered office in Austria, a non-renewable credit agreement in the sum of €47 000 in order to have renovation work carried out in her home, more particularly to create apartments in it for letting. The loan was taken out using an … Continue reading A national law cannot invalidate, by a retroactive, general and automatic rule, credit agreements concluded with foreign lenders

Auditors publish report on SRB’s, Commission’s and Council’s contingent liabilities

The Single Resolution Board (SRB) and the European Commission should continuously assess their financial risks and accounting thereof, arising from contingent liabilities related to bank-resolution lawsuits as from their 2018 accounts, according to a new report by the European Court of Auditors. The auditors reviewed the possible obligations of the SRB, Commission and Council arising … Continue reading Auditors publish report on SRB’s, Commission’s and Council’s contingent liabilities

Stronger anti-money laundering supervision for a stable banking and financial sector – Questions and Answers

The Commission proposed today to further strengthen the supervision of EU financial institutions to better address money-laundering and terrorist financing threats. While the EU has strong anti-money laundering rules in place, recent cases involving money laundering in some EU banks have raised concerns that those rules are not always supervised and enforced effectively across the … Continue reading Stronger anti-money laundering supervision for a stable banking and financial sector – Questions and Answers

Questions and Answers on the EU list of non-cooperative tax jurisdictions

Why has the EU produced a list of non-cooperative tax jurisdictions? The new list is part of the EU's work to clamp down on tax evasion and avoidance. It will help the EU to deal more robustly with external threats to Member States' tax bases and to tackle third countries that consistently refuse to play … Continue reading Questions and Answers on the EU list of non-cooperative tax jurisdictions

Security Union: Cracking down on the illegal import of cultural goods used to finance terrorism

The European Commission has today put forward new rules to clamp down on the illegal import and trafficking of cultural goods from outside the EU, often linked to terrorist financing and other criminal activity. Today's proposal marks one of the final steps set out in the Commission's action plan to strengthen the fight against terrorism financing. … Continue reading Security Union: Cracking down on the illegal import of cultural goods used to finance terrorism