Harmonisation: Difference between revisions

From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson
(Add quotes. Sources: linked pages.)
imported>Doug Williamson
(Add link.)
 
(8 intermediate revisions by the same user not shown)
Line 1: Line 1:
1.  ''Law – regulation.''
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 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.




:<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.
: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''
:''Common Consolidated Corporate Tax Base - Treasurer's Wiki''
Line 16: Line 23:
:<span style="color:#4B0082">'''''Accounting harmonisation for crypto-assets'''''</span>
:<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...
:"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
: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."
treatment by prescribing that banks should account for crypto-assets as intangible assets."


:''Crypto-assets - European Central Bank''
:''Crypto-assets - European Central Bank''
Line 27: Line 33:
:<span style="color:#4B0082">'''''Accepting some inconsistency'''''</span>
:<span style="color:#4B0082">'''''Accepting some inconsistency'''''</span>


:Existential coaching recognises that the client's worldview will only rarely be complete, coherent or consistent.
:"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.
:Whilst some aspects will be reconcilable, others will be incapable of being resolved or harmonised."


:''Worldview - the Treasurer's Wiki''
:''Worldview - the Treasurer's Wiki''




2.  ''European Union.''
2.  ''European Union (EU).''


Harmonisation refers to the determination of EU-wide legally binding standards to be met in all Member States.
In the EU context, harmonisation refers to the determination of EU-wide legally binding standards to be met in all Member States.




Line 43: Line 49:


==See also==
==See also==
* [[Common Consolidated Corporate Tax Base]]
* [[Business in Europe: Framework for Income Taxation]]
* [[Cryptoassets]]
* [[Cryptoassets]]
* [[Divergence]]
* [[Equivalence]]
* [[Equivalence]]
* [[European Central Bank]]
* [[European Central Bank]]
Line 51: Line 58:
* [[Existential coaching]]
* [[Existential coaching]]
* [[Goal congruence]]
* [[Goal congruence]]
* [[Member state]]
* [[Payments and payment systems]]
* [[Payments and payment systems]]
* [[Protectionism]]
* [[Regulatory arbitrage]]
* [[Smuggling]]
* [[Tax arbitrage]]
* [[Tax harmonisation]]
* [[Treaty]]
* [[Worldview]]
* [[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

Retrieved from ‘https://wiki.treasurers.org/w/index.php?title=Harmonisation&oldid=24522’