Description
The EIB Group is committed to continue maintaining a stringent policy against tax fraud, tax evasion, tax avoidance as well as money laundering and terrorism financing.
EIB Group Policy towards weakly regulated, non-transparent and non-cooperative jurisdictions and tax good governance (EIB Group NCJ Policy), approved by the European Investment Bank (EIB) and the European Investment Fund (EIF) in 2019, takes into account the EU legal and policy framework as well as developments in the area of tax.
The EIB Group NCJ Policy introduces, inter alia, the following key changes in comparison with the previous NCJ Policy:
- expands the scope of Targeted Activities to include tax avoidance practices;
- includes an Anti-Tax Avoidance Toolbox in Appendix 1, setting out general expectations vis-à-vis contracting counterparties and providing a menu of measures that the EIB Group entities may apply, where appropriate, on a risk-sensitive basis in the course of tax integrity due diligence;
- updates references to key EU and international developments in the area of tax and AML-CFT, enhances tax disclosures and modernises the terminology.
The attached EIB Group NCJ Policy replaces the previous NCJ Policy of 15th December 2010 and its Addendum of 13th March 2014.
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