Harmonisation: Difference between revisions
From ACT Wiki
Jump to navigationJump to search
imported>Doug Williamson (Layout.) |
imported>Doug Williamson (Add link.) |
||
| Line 59: | Line 59: | ||
* [[Member state]] | * [[Member state]] | ||
* [[Payments and payment systems]] | * [[Payments and payment systems]] | ||
* [[Protectionism]] | |||
* [[Regulatory arbitrage]] | * [[Regulatory arbitrage]] | ||
* [[Smuggling]] | * [[Smuggling]] | ||
Revision as of 01:14, 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.
