During its meeting of May 25, 2018 the Economic and Financial Affairs (ECOFIN) Council adopted a COUNCIL DIRECTIVE amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements. On June 5, 2018 the text of COUNCIL DIRECTIVE (EU) 2018/822 of 25 May 2018 amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements was published in the Official Journal of the European Union.

 

The directive targets intermediaries such as tax advisors, accountants and lawyers that design and/or promote tax planning schemes. It requires 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. Member States will have until December 31, 2019 to transpose it into national laws and regulations.

 

Click here to be forwarded to COUNCIL DIRECTIVE (EU) 2018/822 of 25 May 2018 amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements as published in the Official Journal of the European Union of June 5, 2018.

 

 

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