Press Release: Fighting tax evasion: stronger EU rules enter into force on 1st January

New EU rules which will improve Member States’ ability to assess and collect the taxes that they are due will enter into force on 1 January 2013.

The Directive on Administrative Cooperation in the field of taxation lays the basis for stronger cooperation and greater information exchange between tax authorities in the EU. One of the key aspects of the Directive is that it brings an end to bank secrecy: one Member State cannot refuse to give information to another just because it is held by a financial institution.