Search Results for: Czech

DEUTSCHE Bank’s AMLO has told a European Parliament hearing – to the dismay of MEPs – that the German major had no evidence that it was involved in misconduct surrounding the Danske Bank Estonia money laundering scandal.

Stephan Wilken, head of anti-financial crime and Deutsche Bank’s group anti-money laundering officer, told the EP’s special committee on financial crimes, tax evasion and tax avoidance (TAX3) on Tuesday (Feb 4): “We have not identified any misconduct” in Danske case.…

TRADING partners with the European Union (EU) are concerned about the EU cutting the size of low duty import quotas once Britain quits the bloc, which it is scheduled to do on March 28.

The EU has released detailed plans to reduce the amount of some goods it allows into the EU, to take account of Britain exiting the single European market.…

THE EUROPEAN Union (EU) must create a central agency to supervise banks and non-banking institutions to combat rising risks posed by money laundering, a European Parliament hearing that focuses especially on the threat posed by Russian dirty money, has been told.…

EUROPEAN Union member states are dragging their feet implementing the fourth anti-money laundering directive’s (4AMLD 2015/849) beneficial ownership rules. Only five countries met the June 26, 2017, AMLD4 deadline for having an ultimate beneficial ownership (UBO) register under national law – Britain, Denmark, France, Germany and Sweden- according to the European Commission. …

EASTERN Europe remains a highly diverse market, where major beauty brands must think strategically to achieve economies of scale and a regional presence that really deliver profits. This is also a region where some markets are significantly bigger than others – with Russia and Poland being key targets.…

THERE are few more complex accounting issues than transfer pricing (TP), and as the world’s economy becomes more integrated and tax jurisdictions impact each other, experts such as the OECD’s Tomas Balco are increasingly in demand.

Heading the OECD’s transfer pricing unit in the organisation’s Centre for Tax Policy and Administration, Balco commands an almost encyclopaedic technical knowledge of tax.…

The conventional arms trade has a reputation for using side payment sweeteners to secure multi-million dollar deals. But despite allegations of corruption in numerous jurisdictions, the legitimate arms trade is not on the Financial Action Task Force’s (FATF) radar. Should it be?…

Centre right members of the European Parliament’s special committee on financial crimes, tax evasion and tax avoidance (TAX3) have hit out at the 18 EU member states, that offer citizenship or residence in exchange for investments. The MEPs, members of the European People’s Party (EPP), spoke out November 14 as the committee handed down a draft report*, with findings and recommendations, including phasing out such rights.…

The latest edition of the biannual China International Trade Fair for Technical Textiles and Nonwovens (Cinte Techtextil China), held September 4-6, in Shanghai, showed how Chinese manufacturers are more than holding their own in these technically demanding markets.

The fair, a spin-off from the Techtextil show in Germany, attracted a diverse range of some 500 exhibitors from around 20 countries, covering 12 different application areas with protech, mobiltech and geotech, spanning wovens, knits and nonwovens, arguably being most prominent. …

A new report from Transparency International has found that only 11 major exporting countries in the world significantly punish companies that pay bribes abroad. The report, called ‘Exporting Corruption’, also found that more than half of world exports come from at least 33 jurisdictions, including several European Union (EU) member states, where companies that export corruption along with their goods and services face weak consequences. …