EU Parliament Refuses To Separate Tax, AML Deficient Lists
By Najiyya Budaly (July 10, 2018, 5:07 PM BST) -- The European Parliament said on Tuesday that it will not separate the European Union's list of non-cooperative tax jurisdictions and anti-money laundering deficient countries, as was proposed by the European Commission.
Parliament acknowledged that countries outside the EU that are blacklisted for one deficiency do not always have failings in the other area.
But the Parliament said that both tax and money laundering risks represent equal threats to Europe's financial system. Firms choosing to trade with or invest in these jurisdictions would be required to impose the same enhanced due diligence measures.
"Tax evasion and money laundering do not indeed always...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!