European Commission 2020 Work Programme
This week, the European Commission published its 2020 Work Programme. The Commission plans the following actions in order to combat money laundering and the financing of terrorism.
First of all, in order to ensure the integrity of the European financial system and reduce the risks of instability, a new Action Plan on Anti-Money Laundering will seek to improve the supervisory system and improve the enforcement of the rules.
Secondly, the Commission will present a Communication on Business Taxation for the 21st century, focusing on the taxation aspects relevant in the Single Market. Moreover, an Action Plan to Fight Tax Evasion aims to simplify the taxation system.
Thirdly, the Commission will adopt an Action Plan on the Customs Union that will focus on three pillars: 1) ensure protection of the borders, 2) promote compliance of the rules, 3) improve the governance of the Customs Union. The Commission will also adopt a legislative proposal on a Customs Single Window to reinforce the protection of the borders and simplify administrative procedures for companies.
Moreover, to further strengthen overall cybersecurity in the Union, the Commission will review the Directive on Security of Network and Information Systems. We will also put forward initiatives to make digital finance more robust against cyber-attacks, including a Proposal on Crypto Assets.
More information can be found here.