Value-added tax, or VAT, first introduced less than 50 years ago, is now a pivotal component of tax systems around the world. The rapid and seemingly irresistible rise of the VAT is probably the most important tax development of the latter twentieth century, and certainly the most breathtaking. Written by a team of experts from the International Monetary Fund, this book examines the remarkable spread and current reach of the innovative tax, and draws lessons about the design and implementation of the VAT, as experienced by different countries around the world. How efficient is it as a tax, is it fair, and is it suitable for all countries are among the questions raised in this highly informative and well-researched book that also looks at the likely future of the tax.

https://www.elibrary.imf.org/downloadpdf/books/071/07173-9781589060265-en/07173-9781589060265-en-book.pdf

The Modern Vat

The ‘Bologna process’ is promoting fundamental changes throughout European higher education. Education ministers appear determined to reach, by 2010, a significant convergence of the national educational systems. This implies the necessity of adapting curricula in terms of structures, contents, learning attributes, learning tools and assessment methods. The EC ‘Tuning’ project was set up in order to investigate the feasibility of this process on the basis of ‘available experience and recent developments in several of the Member states… particularly from previous and on-going European co-operation in the context of the Socrates programme’. The Tuning project, initially aimed at five areas only (mathematics, geology, business, history, educational sciences), was later extended to other areas, including engineering: synergy groups were formed for this purpose. This paper summarizes the final report of the Engineering Synergy Group, which examined the ‘tuning’ of engineering education (EE) into European highe...

Tuning engineering education into the European higher education orchestra

An accessible, comprehensive analysis of the main principles and rules of banking regulation in the post-crisis regulatory reform era, this textbook looks at banking regulation from an inter-disciplinary perspective across law, economics, finance, management and policy studies. It provides detailed coverage of the most recent international, European and UK bank regulatory and policy developments, including Basel IV, structural regulation, bank resolution and Brexit, and considers the impact on bank governance, compliance, risk management and strategy.

Principles of Banking Regulation

Hawaladars, like employees from regular financial institutions, can come into contact with criminal money. The important question is: How do they deal with those situations? Regular financial institutions have introduced all manner of due diligence to lessen such risks and comply with anti-money-laundering regulations. However, it is less clear what precautions hawaladars have taken. If they knowingly handle criminal proceeds, they are guilty of money-laundering offences. If they unknowingly handle criminal proceeds, it becomes important to increase their awareness about such possibilities. To make better informed statements about any involvement of hawaladars in the transfer of criminal money, for this article, police files were studied in which hawaladars facilitated criminal clients. This results in two outcomes: First, seven “red flags” regarding transactions involving criminal clients were identified. These are subjective indicators a hawaladar could use to identify criminal transactions. Second, with these red flags in hand, it can be determined whether hawaladars in police files could reasonably be found guilty of money laundering. Ultimately, these results could contribute to identifying the possibilities and impossibilities of formal financial supervision of the hawala sector.

Hawala and Money Laundering: Potential Use of Red Flags for Persons Offering Hawala Services

Can, and will, lawyers police their clients? This article aims to shed light on the private front-line workers of the Financial Action Task Force on money laundering (FATF). The analysis is based o ...

/pdf/client-privilege-compliance-and-the-rule-of-law-swedish-go0ljslyvw.pdf

Client privilege, compliance and the rule of law: Swedish lawyers and money laundering prevention

Opinion Statement on the Proposal of a Directive of the European Parliament and the Council Amending Council Directive 91/308/EEC on the Prevention of the Use of a Financial System for the Purpose of Money Laundering (12469/1/2000 - C5-0678/2000 - 1999/0152(COD))

CFE Opinion Statement on a New Commission Proposal for a Directive of the European Parliament and of the Council on the Recognition of Professional Qualifications (COM(2002) 119 final, 2002/0061 (COD))

Opinion Statement on the Proposal for a Council Directive Amending Directive 77/388/EEC as Regards the Rules Governing the Right to Deduct Value Added Tax

Confédération Fiscale Européenne

Papers

Opinion Statement on the Proposal of a Directive of the European Parliament and the Council Amending Council Directive 91/308/EEC on the Prevention of the Use of a Financial System for the Purpose of Money Laundering (12469/1/2000 - C5-0678/2000 - 1999/0152(COD))

CFE Opinion Statement on a New Commission Proposal for a Directive of the European Parliament and of the Council on the Recognition of Professional Qualifications (COM(2002) 119 final, 2002/0061 (COD))

Opinion Statement on the Proposal for a Council Directive Amending Directive 77/388/EEC as Regards the Rules Governing the Right to Deduct Value Added Tax

Statement on Place of Effective Management Concept