EU COUNCIL ADOPTS TRANSPARENCY RULES ADOPTED FOR TAX INTERMEDIARIES

On 25th May, the EU announced that the Council had approved a Directive that targets intermediaries such as tax advisors, accountants and lawyers that design and/or promote tax planning schemes. It will require them to report schemes that are potentially aggressive.  The information received will be automatically exchanged through a centralised database.  Penalties will be imposed on intermediaries that do not comply.  The draft Directive is at –

http://data.consilium.europa.eu/doc/document/ST-7160-2018-INIT/en/pdf

http://www.consilium.europa.eu/en/press/press-releases/2018/05/25/corporate-tax-avoidance-transparency-rules-adopted-for-tax-intermediaries/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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