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Economic and monetary affairs

 

MEPs call for virtual currency watchdog to combat money laundering and terrorism

Plenary Session External/international trade / Economic and monetary affairs26-05-2016 - 12:03
©AP Images/ European Union-EP  

The EU Commission should set up a taskforce to monitor virtual currencies, like Bitcoin, to prevent their being used to launder money or finance terrorism, said Parliament in a non-binding resolution voted on Thursday. (Read more: MEPs call for virtual currency watchdog to combat money laundering and terrorism )

 

Virtual currencies: "The technology is rapidly evolving and we must follow it”

Plenary Session External/international trade / Economic and monetary affairs25-05-2016 - 12:40
MEP Weiszacker  

In recent years currencies such as Bitcoin have emerged that are not issued by banks but exist in the digital world only, relying on public and shared databases to have balances and transactions verified. The EU should set up a task force to monitor developments in this area and prepare to step in with regulations if necessary, according to a report to be debated by MEPs on 25 May and voted on the following day. We spoke to report authorJakob von Weizsäcker, a German member of the S&D group. (Read more: Virtual currencies: "The technology is rapidly evolving and we must follow it” )

 

Anti-tax avoidance: close tax gap with low-tax third countries, say MEPs

ECON Economic and monetary affairs24-05-2016 - 14:42

The European Commission's proposal for an EU anti-tax avoidance directive was welcomed by Parliament's Economic and Monetary Affairs Committee in a resolution voted on Tuesday. MEPs nonetheless advocated stricter limits on deductions for interest payments and an effective corporate tax rate of 15%. (Read more: Anti-tax avoidance: close tax gap with low-tax third countries, say MEPs )

 

The European Commission's proposal for automatic exchange of corporate tax information among national tax authorities was welcomed by Parliament on Thursday as "a positive step in the fight against aggressive corporate tax planning". But MEPs also advocated adding further safeguards in the text to ensure that competition in the single market is not distorted by advantageous national tax deals with multinationals. (Read more: Corporate tax: MEPs welcome plan for information sharing by national authorities )

 

Heated debate over state of Greece's adjustment programme

Plenary Session Economic and monetary affairs10-05-2016 - 17:22

In a heated debate about the state of play of the Greek macro-economic adjustment programme, the centre-left parties S&D, GUE, Greens/EFA, but also the conservative ECR, warned Greece's creditors and the IMF not to impose more reforms on the country and advocated debt relief. Some MEPs attacked the IMF for being too tough on reforms whereas the centre-right EPP underlined the need for them. (Read more: Heated debate over state of Greece's adjustment programme )

 

Overview: the European Parliament's work on taxation

Others Economic and monetary affairs / Taxation03-05-2016 - 11:16
taxation_en.jpg  

The fight for fair taxation in the EU has been high on Parliament's agenda long before LuxLeaks and the Panama papers. Since the start of the economic and financial crisis, MEPs have been pushing for greater transparency and an end to tax unfair practices. Read on for our overview of Parliament initiatives. (Read more: Overview: the European Parliament's work on taxation )

 

Interest rates: final vote to ensure robust and transparent benchmark setting

Plenary Session Economic and monetary affairs28-04-2016 - 12:03

Benchmark interest rates that are critical to financial market stability across Europe, such as the London Interbank Offered Rate (LIBOR) and the Euro Interbank Offered Rate (EURIBOR), will become more reliable thanks to a new law voted in by Parliament on Thursday. This law aims to clean up the benchmark-setting process, improve transparency, and prevent conflicts of interest like those that led to the LIBOR rigging scandals of recent years. (Read more: Interest rates: final vote to ensure robust and transparent benchmark setting )

 

Corporate tax: economic affairs MEPs welcome information sharing by authorities

ECON Economic and monetary affairs26-04-2016 - 14:42

The European Commission's proposal for automatic exchange of corporate tax information among national tax authorities was welcomed by Economic and Monetary Affairs Committee MEPs on Tuesday as a positive step in the fight against aggressive corporate tax planning. But MEPs also advocated adding further safeguards in the text to ensure that competition in the single market is not distorted by advantageous national tax deals with multinationals. (Read more: Corporate tax: economic affairs MEPs welcome information sharing by authorities )

 

EP inquiry committee into Panama Papers

Others Taxation14-04-2016 - 12:41

The European Parliament Conference of Presidents, uniting the EP president and political group leaders, unanimously backed today the setting up of an inquiry committee* to investigate the so-called Panama Papers, which revealed detailed information on off-shore companies and their ultimate beneficiaries. (Read more: EP inquiry committee into Panama Papers )

 

MEPs call for crackdown on tax fraud in “Panama Papers” debate

Plenary Session Taxation13-04-2016 - 10:37

MEPs urged the EU Commission and member states to step up their efforts to fight tax evasion and money laundering in a Tuesday afternoon debate prompted by the “Panama Papers” revelations about more than 200,000 offshore companies and their secret owners. (Read more: MEPs call for crackdown on tax fraud in “Panama Papers” debate )