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No EU funds for countries that breach intellectual property rules

The European Commission will ban developing countries from EU programmes, or cut their funding, if they persistently break intellectual property rights rules, according to a trade strategy published yesterday (1 July).

The executive yesterday adopted two initiatives to fight IPR infringement - one for breaches in the EU and the other internationally. Such breaches hit economic growth and employment, it said. Both plans will be put into practice this year and next.

Last Updated on Friday, 04 July 2014 13:16
GFI Hails Continued Progress on EU Anti-Money Laundering Directive

Council of the European Union Approves Text and Timetable for Directive, Including Crucial Measures on Beneficial Ownership Transparency

– Global Financial Integrity (GFI) praised the Council of the European Union for continuing today the EU’s movement towards cracking down on anonymous companies, a major conduit for laundering the proceeds of crime, corruption, and tax evasion.

The Council, which is composed of government ministers from each EU member country, agreed on a revised text of changes to the EU’s Anti-Money-Laundering Directive (AMLD), which will now return to the Parliament for a second reading and negotiations with the Council on final wording. The Council text retains the requirement, which the European Parliament overwhelmingly approved in March, that companies and trusts formed in every EU country disclose their “beneficial owners,” or the natural persons who ultimately own or control them, to a central authority.


Last Updated on Friday, 20 June 2014 15:51
Micro-finance and money-laundering

KARACHI: The State Bank of Pakistan (SBP) has issued revised prudential regulations for microfinance banks (MFBs) to further improve their governance structure, consumer protection practices and anti-money laundering policies.

New ILO Protocol against Forced Labour

A new global protocol to fight forced labour, adopted this week by the International Labour Organisation, will accelerate action against modern slavery.

G7 Leaders reaffirm commitment to tackle illicit financial flows

G7 leaders meeting in Brussels reiterated their commitment to curtailing illicit financial flows stemming from crime, corruption, and tax evasion in a communiqué released today, as Global Financial Integrity (GFI) called on world leaders to push for an explicit illicit financial flows commitment in the post-2015 Sustainable Development Goals (SDGs).

The communiqué states that “We will continue to work to tackle tax evasion and illicit flows of finance, including by supporting developing countries to strengthen their tax base and help create stable and sustainable states.”

Read the communiqué

Some days ago in Kathmandu

Last Updated on Tuesday, 27 May 2014 20:06
A European FTT

Official press briefing concerning the European FTT at today's meeting of EU ministers of finance ... see p. 9

a sad result ...

Last Updated on Tuesday, 06 May 2014 23:30
The IMF's strategy on anti-money laundering

Press release of the IMF on anti-money laundering and combating financing for terrorism

Corporation tax in the EU: 107 billion Euro lost

Back in 2000, the effective corporate tax rate in the Eurozone was 18.4 percent.  By 2011, this had fallen to 12.5 percent.  This may not seem like a lot but it is.  This is equivalent to approximately €107 billion reduction in Eurozone corporate tax revenue.  €107 billion.

Imagine if that revenue was available to the Eurozone:  less tax on labour, more expenditure on public services and social protection, higher investment in telecommunications, renewable energy, and education (let’s not forget that there are 76 million people in the Eurozone at risk of poverty and social exclusion).  That €107 billion would mean a significant boost to domestic demand which would, in turn, mean more prosperous markets for exporting firms to operate in.



Ground-breaking changes to fight money laundering

Joint NGO media reaction: Financial Transparency Coalition – Eurodad - Global Witness - Oxfam

NGOs welcome MEP's vote for ground-breaking changes to fight money laundering

A cross political party agreement in the European Parliament puts pressure on EU member states to step up the fight for corporate transparency

Soon it might be a lot harder for criminals, tax evaders, corrupt politicians and other money launderers to hide their identity and their illicit funds behind anonymous shell companies, following a key vote today in the European Parliament.

Last Updated on Saturday, 22 February 2014 03:01
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