The Dutch Ministry of Finance announced, by way of a press release, that it had launched a public (internet) consultation on draft legislation implementing Directive (EU) 2018/843 of the European Parliament and of the Council of 30 May 2018 amending Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing, and amending Directives 2009/138/EC and 2013/36/EU (the Fifth AMLD).
Among other things, the fifth AMLD will:
The directive extends the scope of the EU anti-money laundering requirement by including virtual currency exchange platforms. The Directive defines “virtual currency” as a “digital representation of value that is not issued or guaranteed by a central bank or a public authority, is not necessarily attached to a legally established currency and does not possess a legal status of currency or money, but is accepted by natural or legal persons as a means of exchange and which can be transferred, stored and traded electronically.
The explanatory notes to the bill explain that the reasons to adopt the measures in fifth AMLD is due to the emergence of technological services being increasingly used as alternative financial systems, the increased intertwining of organized crime and terrorism, and the desirability of better cooperation between competent authorities within EU.
The proposed bill is expected to implement by 10 January 2020 as mandated by the directive and this bill is open to consultation. The consultation period ends on 15 January 2019.
Source: Dutch Government
This workshop will not only provide insights into the latest national and international developments in the field of analytics applied by governments, but will also allow for sufficient dialogue amongst participants and presenters alike to share best practices around designing a Tax Risk Management Strategy going forward.
How to manage Global Tax Controversy?
How to use Value Chain Analysis as a risk management tool?
How to Use Tax Technology to stay one step ahead of the tax authorities?
Time: 9.00AM - 6.30PM London (UK)
Venue: De Vere Grand Connaught Rooms, London