15 Amendments of Emil RADEV related to 2018/2121(INI)
Amendment 565 #
Motion for a resolution
Paragraph 77
Paragraph 77
77. Considers that one of the main issues allowing fraudulent behaviour in relation to VAT to occur is the ‘cash profit’ that a fraudster can make; calls, therefore, on the Commission to analyse the proposal made by experts54 , to place cross-border transactional data on a blockchain, and to use secured digital currencies that can only be used for VAT payments (single purpose) instead of using fiat currency; _________________ 54 Ainsworth, R. T., Alwohabi, M., Cheetham, M. and Tirand, C.:’ A VATCoin Solution to MTIC Fraud: Past Efforts, Present Technology, and the EU’s 2017 Proposal’, Boston University School of Law, Law and Economics Series Paper, No 18-08, 26 March 2018. See also: Ainsworth, R. T., Alwohabi, M. and Cheetham, M.: ‘VATCoin: Can a Crypto Tax Currency Prevent VAT Fraud?’, Tax Notes International, Vol 84, 14 November 2016.
Amendment 633 #
Motion for a resolution
Paragraph 87
Paragraph 87
87. Stresses that CBI and RBI schemes can carry significant risks if they are not checked and monitored, including a devaluation of EU citizenship and the potential for corruption, money laundering and tax evasion; reiterates its concern that citizenship or residview that proper customer due diligence cshould be granted through these schemes without proper or indeed any customer due diligence (CDD) having been carried outcarried out for the implementation of these schemes as they may result in the granting of citizenship or the right to residence in the European Union; notes that several formal investigations into corruption and money laundering have been launched at national and EU level directly related to CBI and RBI schemes; underlines that, at the same time, guarantee should be provided of the economic sustainability and viability of the investments provided through these schemes remain uncertain;
Amendment 636 #
Motion for a resolution
Paragraph 88
Paragraph 88
88. Notes that these programmes regularly involve tax privileges or special tax regimes for the beneficiaries; is concerned that these privileges could hamper the objective of making all citizens contribute fairly to the tax system;
Amendment 649 #
Motion for a resolution
Paragraph 89
Paragraph 89
89. Worries that there is very little transparency in relation to the number and origin of applicants, the numbers of individuals granted citizenship or residency by these schemes and the amount invested through these schemes in some Member States; appreciates the fact that some Member States make explicit the name and nationalities of the individuals who are granted citizenship or residency under these schemes;
Amendment 656 #
Motion for a resolution
Paragraph 91
Paragraph 91
91. Concludes that the potential economic benefits of CBI and RBI schemes do not offset the serious money laundering and tax evasion risks they present; calls on Member States to phase out all existing CBI or RBI schemes as soon as possible; stresses that, in the meantime, Member States should properly ensure that enhanced CDD on applicants for citizenship or residence through these schemes is duly carried out, as required by AMLD5; calls on the Commission to monitor rigorously and continuously the proper implementation and application of CDD within the framework of CBI and RBI schemes until they are repealed in each Member State;
Amendment 689 #
Motion for a resolution
Paragraph 96
Paragraph 96
96. Recalls that free ports are warehouses in free zones, which were – originally – intended as spaces to store merchandise in transit; deplores the facpoints out that they have since become popular foren turned over to the storage of substitute assets, including art, precious stones, antiques, gold and wine collections – often on a permanent basis;60 ; _________________ 60 EPRS study entitled ‘Money Laundering and tax evasion risks in free ports‘, October 2018, PE: 627.114; ISBN: 978-92- 846-3333-3.
Amendment 702 #
Motion for a resolution
Paragraph 102
Paragraph 102
102. Calls on the Commission to tableassess the potential impact of a legislative proposal to ensure the automatic exchange of information between the relevant authorities, including tax and customs authorities, on beneficial ownership and transactions taking place in free ports, customs warehouses or SEZs;
Amendment 756 #
Motion for a resolution
Paragraph 112
Paragraph 112
112. Recalls that KYC and CDD continues uninterrupted throughout the business relationship, and that customers’ transactions have to be permanently monitored for suspicious or unusual activities; recalls, in this context, the obligation for obliged entities to promptly inform national FIUs, on their own initiative, of transactions suspected of ML, associate predicate offences or terrorist financing;
Amendment 790 #
Motion for a resolution
Paragraph 117
Paragraph 117
117. Is aware that the current AML legal framework has so far consisted of directives and is based on minimum harmonisation, which has led to different national supervisory and enforcement practices in the Member States; calls on the Commission to assess, in the context of a future revision of the AML legislation and in the light of the remits established in the EU Treaties, in the required impact assessment, whether a regulation would be a more appropriate legal act than a directive; calls, in this context, for a swift transformation into a regulation of the AML legislation if the impact assessment so advises;
Amendment 842 #
Motion for a resolution
Paragraph 127
Paragraph 127
127. Highlights that in order to fight effectively against money laundering activities, cooperation is essential not only between Member States’ FIUs but also between Member States’ FIUs and the FIUs of third countries; recalls on the European Commission to engage actively with Member States to find mechanism’s obligation under the Fifth Anti-Money Laundering Directive in respect of possibilities to improve and enhance the cooperation of Member States’ FIUs with the FIUs of third countries; calls on the Commission to take opportune action in this regard at the relevant international forums, such as the OECD and the Financial Action Task Force (FATF); considers that in any resulting agreement proper consideration should be given to the protection of personal data;
Amendment 853 #
Motion for a resolution
Paragraph 128
Paragraph 128
128. Points out that the non- standardisation of suspicious transaction report formats among Member States and with respect to the different obliged entities leads to difficulties in the processing and exchange of information between FIUs; calls on the Commission to explore mechanisms to set up standardised reporting formats containing a common minimum set of the mandatory information and data to be collected for obliged entities in order to facilitate the exchange of information between FIUs in cases with a cross-border dimension;
Amendment 869 #
Motion for a resolution
Paragraph 130 a (new)
Paragraph 130 a (new)
130а. Calls on the Commission, in the forthcoming review of the Anti-Money Laundering and Terrorist Financing Directive, to include on the list of obliged entities service providers in the field of transactions involving exchanges of one or more virtual currencies;
Amendment 873 #
Motion for a resolution
Paragraph 133
Paragraph 133
133. Notes that the Union’s AML legislation obliges Member States to establish central registers containing complete beneficial ownership data for companies and trusts, and that it also provides for their interconnection; welcomes the fact that AMLD5 obliges Member States to ensure that the information on beneficial ownership is accessible in all cases to any member of the general public; stresses that the interconnection of registers should be ensured by the Commission; considers that the Commission should closely monitor the functioning of this interconnected system and assess, within a reasonable timeframe, whether it is working properly and whether it should be supplemented by the establishment of an EU public register of beneficial ownership;
Amendment 884 #
Motion for a resolution
Paragraph 134
Paragraph 134
Amendment 942 #
Motion for a resolution
Paragraph 146 a (new)
Paragraph 146 a (new)
146a. Calls on the Commission to provide technical assistance to third countries with the aim of developing effective systems for combating money laundering and the continuous improvement thereof;