The European Parliament's Committee of Inquiry into Money laundering, tax avoidance and tax evasion (PANA) published a new study addressing Member States' capacity to fight tax crimes. The study consist of ex-post impact assessment and investigates national provisions to combat tax avoidance and tax evasion, plus money laundering laws and their enforcement. The committee also informed that the deadline for amendments to the draft report and recommendation is on September 5.
The main objectives are to evaluate whether the legal framework and the institutional configurations in place are adequate, to pinpoint the deficiencies and to suggest ways in which they could be addressed.
"National provisions against tax avoidance and tax evasion, and money laundering laws and their enforcement vary widely from one Member State to the next. This study examines the administrative capabilities of EU Member States when it comes to tackling these challenges and reviews the specific measures they have taken in response to the publication of the Panama Papers.", the European Parliament informed.
On June 30 the draft inquiry report and the draft recommendations of the PANA Committee were published and circulated to the Members. The draft inquiry report presents the Committee's findings on discrepancies between the practices revealed in the Panama Papers and the EU law, notably the Directives on Anti-money Laundering (AMLD) and on Administrative Cooperation in the field of Taxation (DAC). The draft recommendations contain the co-rapporteurs' proposals on how to improve the EU framework regarding Anti-money laundering and administrative cooperation in the area of taxation.
Both reports are open for amendments in the Committee, the deadline for which is set at September 5, 2017 at 12:00. Only the draft recommendations will be open for amendments in the Plenary.
Source: PANA Committee
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