The 12th European Conference on Tax Advisers’ Professional Affairs, hosted by CFE Tax Advisers Europe and the Institut des Avocats Conseils Fiscaux (IACF), will be held in Paris, France, on Friday 29 November 2019 from 9am to 4pm, this year entitled “Making Anti-Money Laundering More Effective For Tax Advisers”.
New EU anti-money laundering rules have been introduced by the 5th Anti-Money Laundering Directive (“AML”), which Member States are obliged to transpose into national law by 10 January 2020. This Directive is based on FATF Recommendations and builds on other EU transparency initiatives to prevent money laundering. The AML Directive covers a variety of industries including tax advisory services and thus supports the OECD efforts in fighting money laundering by the Forum on Tax & Crime.
The conference will examine the perceived risks posed by the tax profession in facilitating money laundering based on the EU Commission’s Supranational Risk Assessments, compliance with the new and existing EU Anti-Money Laundering Directives and efforts taken to address money laundering in the broader international context and the effect this has on tax evasion. Panellists will consider the effectiveness and the impact of existing EU rules and the new requirements of the 5th AML Directive, including making beneficial owners of legal entities registers public and providing increased access to information on the beneficial ownership.
Speakers will also discuss the impact of enhanced cooperation and exchanges of information provided for between the EU and Member States under the 5th AML Directive. In addition, panellists will discuss compliance with and implementation of the measures by tax advisers in practice and the information available to supervisory bodies to facilitate their obligations under the Directive.