Financial Transparency Coalition

When most people think of the Netherlands, what may first come to mind are charming canal-side towns filled with people riding bicycles amid tulip fields and windmills. But the Netherlands is much more than windmills and tulips.

Since February of last year, the European Union has made money laundering and terrorist financing a central focus. In reviewing and updating the third Anti-Money Laundering Directive (AMLD), the European Union has tried to target the process by which criminal proceeds and illicit funds are moved throughout the continent and beyond. We’ve been following their progress closely, and have advocated for sensible reform to allow the EU to set the standard on anti-money laundering. But to be the standard-bearer on financial transparency, EU decision-makers must regulate the anonymous legal entities that...

Last week, the European ministers made a call to establish a country-by-country reporting standard for multinational companies in the extractive sector – a much needed first step to curb tax evasion and avoidance in poor countries. This decision follows groundbreaking reports by the European Parliament to enhance global tax policies which would allow mobilising further development finance to meet internationally agreed development goals. This is a partial victory for civil society organisations in Europe who have been strongly advocating for specific policy reforms to make global tax policies work for the poor. European ministers take first steps to curb tax...