Harmonisation: Difference between revisions
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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. | |||
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2. ''European Union.'' | 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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* [[Existential coaching]] | * [[Existential coaching]] | ||
* [[Goal congruence]] | * [[Goal congruence]] | ||
* [[Member state]] | |||
* [[Payments and payment systems]] | * [[Payments and payment systems]] | ||
* [[Regulatory arbitrage]] | |||
* [[Smuggling]] | |||
* [[Tax arbitrage]] | |||
* [[Worldview]] | * [[Worldview]] | ||
[[Category:Accounting,_tax_and_regulation]] | [[Category:Accounting,_tax_and_regulation]] | ||
[[Category:The_business_context]] | [[Category:The_business_context]] | ||
Revision as of 01:11, 25 June 2021
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.
