Press Release: Corporate tax avoidance: Council adopts rules on the exchange of tax-related information on multinationals

On 25 May 2016, the Council of the European Union adopted rules on the reporting by multinational companies of tax-related information and exchange of that information between member states.

The directive was the first element of a January 2016 package of Commission proposals to strengthen rules against corporate tax avoidance. The directive built on 2015 OECD recommendations to address tax base erosion and profit shifting (BEPS).

The principal aim of the directive was to prevent multinationals from exploiting the technicalities of a tax system, or mismatches between different tax systems, in order to reduce or avoid their tax liabilities.

• Primary Source

ESO: Background information: Economic and Financial Affairs Council, 25 May 2016 http://www.europeansources.info/record/economic-and-financial-affairs-council-25-may-2016/

ESO: Background information: Corporate tax: economic affairs MEPs welcome information sharing by authorities http://www.europeansources.info/record/corporate-tax-economic-affairs-meps-welcome-information-sharing-by-authorities/

ESO: Background information: Press Release: European Commission proposes public tax transparency rules for multinationals http://www.europeansources.info/record/european-commission-proposes-public-tax-transparency-rules-for-multinationals/

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