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THE ORGANISATION for Economic Cooperation and Development (OECD) has released a full version of a new global standard for the exchange of information between jurisdictions. Its ‘Standard for Automatic Exchange of Financial Account Information in Tax Matters’ calls on governments to obtain detailed account data from financial institutions and exchange it automatically with other jurisdictions annually.…

THE EUROPEAN Commission has used the momentum created by Europe’s financial crisis to push through legislation on taxation issues that have been politically unpalatable during times of prosperity and growth. But it has not brought European Union (EU) countries’ tax systems closer together through overall harmonisation, to the chagrin of small- and medium-sized enterprises (SMEs), which still struggle with different systems across EU member states.…

A SINGLE global standard for automatic information exchange (AIE) between tax authorities worldwide is in the final stages of preparation by the Organisation for Economic Cooperation & Development (OECD). G20 finance ministers will consider it in September before sanctioning its implementation.…

European Union (EU) police agency Europol has hailed as a success a two-day operation against illicit scrap dealers, which yielded 271 arrests and identified 146 cases of theft across Europe. Law enforcement teams, backed by the EU unit, checked 8,300 scrap metal dealers in 20 European countries.…

Nonwovens are taking on an increasingly important role in creating more sustainable vehicles, particularly in interiors, offering lightweight materials reducing fuel usage, recyclability, and the use of green feedstocks such as plant and waste food material.

The US-based global Association of the Nonwoven Fabrics Industry (INDA) estimates there was about 560,000 tonnes of nonwovens in global automotive usage in 2013, said Dave Rousse, INDA’s president.…

HELPING AND ADVISING EUROPEAN CONSUMERS SHOPPING AND TRAVELLING ABROAD

WHEN CAN ECC-NET OFFICES HELP YOU?

• Air travel

So much can go wrong: flights can be delayed or cancelled; luggage can be lost or damaged; and hidden fees can be charged.…

Compliance experts believe the sanctions imposed thus far by the USA and European Union (EU) on Russia over the Ukraine crisis will have a mixed effect. One of the biggest criticisms is that the sanctions were publicly discussed before being implemented giving targeted individuals time to get their finances to a safe haven.…

Compliance experts believe the sanctions imposed thus far by the USA and European Union (EU) on Russia over the Ukraine crisis will have a mixed effect. One of the biggest criticisms is that the sanctions were publicly discussed before being implemented giving targeted individuals time to get their finances to a safe haven.…

THE EUROPEAN Chemicals Agency (ECHA) has announced that new reforms to the European Union’s (EU) new biocidal products regulation have come into force, clarifying difficulties discovered in the original legislation.

This new amending regulation (334/2014) includes a new definition of biocidal product families, which sub-categorises products within the same grouping according to their levels of risk and efficacy.…

THE EUROPEAN Union (EU) is strengthening its commitments for member states to criminalise financial frauds that have an impact on the EU EUR135 billion annual budget. The European Parliament’s budgetary control and civil liberties committee have now approved a draft of a new directive on the ‘fight against fraud to the Union’s financial interests by means of criminal law’.…