EU proposes mandatory disclosure of tax information for reportable cross - border arrangements
The European Commission (EC) published a draft Directive on 21 June 2017 entitled Proposal for 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. This would amend further (and for the fifth time) the EU’s Directive on a dministrative cooperation in the field of taxation. The draft Directive would impose mandatory reporting by taxpayers and intermediaries to the tax administrations of EU Member States for various cross - border transact ions and arrangements. It also addresses the consequent automatic exchange of information on those transactions and arrangements across the EU.