Harmonisation: Difference between revisions
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1. ''Law - regulation - systems - practices.'' | |||
The act of making laws, regulations, systems or practices the same - or sufficiently similar - in different countries, companies or the like, so that they can work together more easily. | |||
The | The potential benefits of harmonisation include: | ||
*Spreading better practices and appropriate standards more widely, more quickly. | |||
*Reducing the scope for tax arbitrage, regulatory arbitrage and smuggling. | |||
*Reducing error rates in reporting. | |||
*Saving reporting and other administration costs. | |||
:<span style="color:#4B0082">'''''Tax base harmonisation'''''</span> | :<span style="color:#4B0082">'''''Tax base harmonisation'''''</span> | ||
:Agreement on tax base harmonisation has been a slow process. | :"Agreement on tax base harmonisation has been a slow process. | ||
:Supporters of harmonisation continue to argue the case, especially before their domestic electorates. | :Supporters of harmonisation continue to argue the case, especially before their domestic electorates. | ||
:Supporters of harmonisation have also proposed the introduction of a common tax base among a voluntary coalition of willing Member States if agreement among all Member States is not forthcoming. | |||
:''Treasurer's Wiki, | :Supporters of harmonisation have also proposed the introduction of a common tax base among a voluntary coalition of willing Member States if agreement among all Member States is not forthcoming." | ||
:''Common Consolidated Corporate Tax Base - Treasurer's Wiki'' | |||
:<span style="color:#4B0082">'''''Accounting harmonisation for crypto-assets'''''</span> | |||
:"The regulation on prudential requirements for credit institutions... as it currently stands, is not tailored to crypto-assets in light of their high volatility... | |||
:A classification of crypto-assets as intangible assets (IAS 38) would automatically mean that crypto-assets would be deducted prudentially. Accounting standard setting bodies/authorities could pursue a harmonised accounting treatment by prescribing that banks should account for crypto-assets as intangible assets." | |||
:''Crypto-assets - European Central Bank'' | |||
:<span style="color:#4B0082">'''''Accepting some inconsistency'''''</span> | |||
:"Existential coaching recognises that the client's worldview will only rarely be complete, coherent or consistent. | |||
:Whilst some aspects will be reconcilable, others will be incapable of being resolved or harmonised." | |||
:''Worldview - the Treasurer's Wiki'' | |||
2. ''European Union (EU).'' | |||
In the EU context, harmonisation refers to the determination of EU-wide legally binding standards to be met in all Member States. | |||
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==See also== | ==See also== | ||
* [[Business in Europe: Framework for Income Taxation]] | |||
* [[Cryptoassets]] | |||
* [[Divergence]] | |||
* [[Equivalence]] | * [[Equivalence]] | ||
* [[European Central Bank]] | |||
* [[European Union]] | * [[European Union]] | ||
* [[European Union (Withdrawal Agreement) Act 2020]] | * [[European Union (Withdrawal Agreement) Act 2020]] | ||
* [[Existential coaching]] | |||
* [[Goal congruence]] | * [[Goal congruence]] | ||
* [[ | * [[Member state]] | ||
* [[Payments and payment systems]] | |||
* [[Protectionism]] | |||
* [[Regulatory arbitrage]] | |||
* [[Smuggling]] | |||
* [[Tax arbitrage]] | |||
* [[Tax harmonisation]] | |||
* [[Treaty]] | |||
* [[Worldview]] | |||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
[[Category:The_business_context]] | [[Category:The_business_context]] | ||
Latest revision as of 05:53, 17 August 2022
1. Law - regulation - systems - practices.
The act of making laws, regulations, systems or practices the same - or sufficiently similar - in different countries, companies or the like, so that they can work together more easily.
The potential benefits of harmonisation include:
- Spreading better practices and appropriate standards more widely, more quickly.
- Reducing the scope for tax arbitrage, regulatory arbitrage and smuggling.
- Reducing error rates in reporting.
- Saving reporting and other administration costs.
- Tax base harmonisation
- "Agreement on tax base harmonisation has been a slow process.
- Supporters of harmonisation continue to argue the case, especially before their domestic electorates.
- Supporters of harmonisation have also proposed the introduction of a common tax base among a voluntary coalition of willing Member States if agreement among all Member States is not forthcoming."
- Common Consolidated Corporate Tax Base - Treasurer's Wiki
- Accounting harmonisation for crypto-assets
- "The regulation on prudential requirements for credit institutions... as it currently stands, is not tailored to crypto-assets in light of their high volatility...
- A classification of crypto-assets as intangible assets (IAS 38) would automatically mean that crypto-assets would be deducted prudentially. Accounting standard setting bodies/authorities could pursue a harmonised accounting treatment by prescribing that banks should account for crypto-assets as intangible assets."
- Crypto-assets - European Central Bank
- Accepting some inconsistency
- "Existential coaching recognises that the client's worldview will only rarely be complete, coherent or consistent.
- Whilst some aspects will be reconcilable, others will be incapable of being resolved or harmonised."
- Worldview - the Treasurer's Wiki
2. European Union (EU).
In the EU context, harmonisation refers to the determination of EU-wide legally binding standards to be met in all Member States.
Also spelt Harmonization.
See also
- Business in Europe: Framework for Income Taxation
- Cryptoassets
- Divergence
- Equivalence
- European Central Bank
- European Union
- European Union (Withdrawal Agreement) Act 2020
- Existential coaching
- Goal congruence
- Member state
- Payments and payment systems
- Protectionism
- Regulatory arbitrage
- Smuggling
- Tax arbitrage
- Tax harmonisation
- Treaty
- Worldview
