Harmonisation: Difference between revisions
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:<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'' | ||
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:<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 treatment by prescribing that banks should account for crypto-assets as intangible assets." | :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." | ||
| Line 33: | 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'' | ||
| Line 49: | Line 49: | ||
==See also== | ==See also== | ||
* [[ | * [[Business in Europe: Framework for Income Taxation]] | ||
* [[Cryptoassets]] | * [[Cryptoassets]] | ||
* [[Divergence]] | |||
* [[Equivalence]] | * [[Equivalence]] | ||
* [[European Central Bank]] | * [[European Central Bank]] | ||
| Line 59: | Line 60: | ||
* [[Member state]] | * [[Member state]] | ||
* [[Payments and payment systems]] | * [[Payments and payment systems]] | ||
* [[Protectionism]] | |||
* [[Regulatory arbitrage]] | * [[Regulatory arbitrage]] | ||
* [[Smuggling]] | * [[Smuggling]] | ||
* [[Tax arbitrage]] | * [[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
- 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
