Law & Numbers - News Tax

EU Members coordinated action against tax evasion


On December 7th 2010, a political agreement was reached at an ECOFIN meeting between the finance ministers of the EU Council regarding a draft directive.

The directive aims at facilitating information exchange between the tax authorities of Member States in matters of direct taxation.

A few of the measures taken include:

- Preventing “fishing expeditions”: information requested will have to be specific (ex. identity of the person under investigation will have to be specified).

- Participation of officials of the requesting state in the administrative enquiries made on the territory of another member state.

- Progressive aim at unconditional exchange of information for eight categories of income (employment, directors’ fess, dividends, capital gains, royalties, certain life insurance products, pensions, ownership of and income from immovable property).

The directive, once the text is finalized, will be adopted with no further discussion.

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