EU transparency rules on tax intermediaries
Published: 05 June 2018
The Council of the European Union has adopted transparency rules to prevent aggressive cross-border tax planning. The rules target intermediaries such as tax advisers, accountants, and lawyers that design and/or promote tax planning schemes.
The Council press release dated 25 May 2018 provides a summary of these rules. Intermediaries must report potentially aggressive schemes. Information received by the relevant authorities would be automatically exchanged through a centralised database. Non-compliance with the reporting requirements would lead to fines being imposed on intermediaries.