EBF Tax Conference 2024: “Banks as Taxpayers and as Auxiliaries to Tax Authorities in the Digital Era”

BRUSSELS, 5 April 2024 – On 23 January 2024, the European Banking Federation (EBF), in collaboration with sponsors Deloitte, EY, KPMG and PwC, held a landmark event on Banks as Taxpayers and as Auxiliaries to Authorities in the Digital Era. The conference brought together leading experts and policymakers to discuss developments in the EU tax landscape and associated implications for financial institutions and financial markets. Leveraging the expertise of distinguished panellists and moderators, including top EU and international policymakers, as well as industry experts, the conference explored the role of banks in tax processes in the digital era and discussed pertinent policy questions ahead of the next EU legislature.

In active exchanges between policymakers and industry experts, speakers included Philip Kerfs from the OECD, Marc Clercx and Henrik Paulander from the European Commission, Mervi Kujanpää from the Finnish Tax Administration, and Christian Schleithof from the German Ministry of Finance.

Key topics addressed at the conference included:

• The effectiveness of tax authorities in addressing tax obstacles to cross-border investment;
• The Finnish experience: Lessons learnt from the application of the OECD standards (TRACE) to withholding tax procedures;
• The potential and challenges presented by FASTER in efforts to modernise withholding tax procedures in the EU;
• The connections between tax reporting and withholding tax procedures with blockchain, datamining, AI, and other innovative tools;
• Best practices for finding the correct balance between fighting tax evasion and data protection;
• Reflections on a decade of Automatic Exchange of Information and Assessment of existing DACs;
• Pressures on banks’ profitability and associated financial stability risks from banking sector specific taxes.

The conference facilitated a unique mix of insight from policymakers, experts, and industry professionals. The EBF would like to thank its sponsors, speakers, moderators and attendees for their participation that made the event possible and such a success. It presented an excellent opportunity for industry engagement, with many fruitful conversations and insights accompanying those provided by the stellar panellists and moderators. The accompanying follow-up paper for the conference details these key debates and insights from the day.

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For more information please contact:

Roger Kaiser
Head of Tax and Compliance, r.kaiser@ebf.eu

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About the EBF

The European Banking Federation is the voice of the European banking sector, bringing together national banking associations from 45 countries. The EBF is committed to a thriving European economy that is underpinned by a stable, secure and inclusive financial ecosystem, and to a flourishing society where financing is available to fund the dreams of citizens, businesses and innovators everywhere. Website: www.ebf.eu Twitter: @EBFeu.