Photo: European Union
On 25 May 2018, the Council adopted rules aimed at boosting transparency to prevent aggressive cross-border tax planning.
The directive 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 new rules are a key part of our strategy to combat corporate tax avoidance. With greater transparency, risks will be detected at an earlier stage and measures taken to close down loopholes before revenue is lost."
Vladislav Goranov, minister for finance of Bulgaria, which currently holds the Council presidency
Read the full press release here.
Visit the meeting the page on the website of the Council of the European Union.