Daily Tax Update - November 14, 2016: European Parliament Committee Holds Public Hearing on Money Laundering, Tax Evasion

European Parliament Committee Holds Public Hearing on Money Laundering, Tax Evasion:  Today, the European Parliament’s Committee of Inquiry Into Money Laundering, Tax Avoidance and Tax Evasion (PANA Committee) held a public hearing titled “Anti-money laundering and tax evasion: Who assures compliance with the rules and enforces them?”  According to a press release, the purpose of the hearing was to “learn from law enforcement bodies how the rules against money laundering and tax evasion are enforced.”  A summary of the experts’ testimonies, which included a recommendation that the European Union setup a European register of beneficial owners of companies, can be accessed here.  The hearing will continue November 16. 

European Commission Releases Annual Study on EU Taxation Trends:  The European Commission’s Taxation and Customs Union recently released the 2016 edition of its annual study, “Taxation Trends in the European Union.”  The study offers a breakdown of comparative tax levels in the European Union and of tax revenues raised from consumption, labor, and capital.  According to the study, tax revenues continue to rise in most European Union member states.