Finance & Economy
The financial crisis has emphasised the need to harmonise rules on the functioning of financial markets, a crucial source of financing in today´s economy. The EU actively tries to improve, in particular, the accountability of financial institutions and transparency of financial markets, at the same time combatting tax evasion and money laundering. These legitimate policies often require, in practice, the collection, use and storage of large amounts of personal information. Therefore, it is necessary to balance public policy objectives with the fundamental rights to privacy and data protection.
With this Opinion, issued pursuant to Article 42(1) of Regulation (EU) 2018/1725, the EDPS puts forward recommendations aiming at minimizing the impact of a Commission’s legislative proposal amending Directive 2011/16/EU on administrative cooperation in the field of taxation on the fundamental right to privacy and to the protection of personal data of individuals. These recommendations are intended to ensure compliance with the applicable data protection legal framework, while avoiding jeopardizing the efficacy and efficiency of the administrative action on the fight against tax evasion.
EDPS Opinion on the European Commission’s action plan for a comprehensive Union policy on preventing money laundering and terrorism financing
Comments of the European Data Protection Supervisor on the proposal for a Council Directive amending Directive 2011/16/EU to address the urgent need for deferring certain time limits for the filing and exchange of information in the field of taxation due to the COVID-19 pandemic
EDPS Opinion on two legislative Proposals relating to combatting VAT Fraud.