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European Union alert: ECOFIN reaches agreement on tax intermediaries directive / revises non-cooperative jurisdiction list

Published on: Mar 14, 2018

On March 13, 2018, EU finance ministers reached political agreement on the tax intermediaries directive proposed by the European Commission on June 21, 2017 that would require mandatory reporting by tax intermediaries and the automatic exchange of information by the tax authorities of member states for certain cross-border arrangements in relation to individuals, companies and other entities.

The directive, which takes the form of an amendment to the Directive for Administrative Cooperation (DAC), is part of the efforts to tackle tax abuse and ensure fairer taxation in the EU, and broadly reflects the elements of action 12 of the BEPS project on the mandatory disclosure of potentially aggressive tax planning arrangements.

The directive will be formally adopted during the next EU council meeting on May 25, 2018, and once adopted generally will apply as from July 1, 2020, with limited retroactive effect.

This publication was released by our Global firm.

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