On 20 July 2021, the European Commission published a comprehensive legislative package to combat money laundering and terrorist financing (AML/CFT) with a total of four legislative proposals. The European Tax Adviser Federation (ETAF) generally welcomes and supports the effort of the European Commission to replace the existing patchwork of different regulations in Europe by common rules but outlines that these new measures must take place under consideration of the different national structures, legal cultures and the existing diversity of professional law in Europe.
