Press Release: Tax transparency: Commission welcomes agreement reached by Member States on the automatic exchange of information on tax rulings

Finance ministers of the European Union agreed on 6 October 2015 with a proposal from the European Commission to automatically exchange information on tax rulings, in a move to combat tax evasion by businesses.

The draft law proposes that starting from 1 January 2017, member states would have to exchange information on advance cross-border tax rulings and advance pricing arrangements.

The agreement came one day after the OECD released its Action Plan to fight tax evasion.

• Primary Source

ESO: Background information: Combatting corporate tax avoidance: Commission presents Tax Transparency Package http://www.europeansources.info/record/press-release-combatting-corporate-tax-avoidance-commission-presents-tax-transparency-package/

Council of the European Union: Press Release, 06.10.15: Cross-border tax rulings: Council approves transparency rules http://www.consilium.europa.eu/en/press/press-releases/2015/10/06-cross-border-tax-rulings/

EurActiv, 07.09.15: EU finance ministers approve new tax transparency rules http://www.euractiv.com/sections/euro-finance/eu-finance-ministers-approve-new-tax-transparency-rules-318281

ESO: Background information: Economic and Financial Affairs Council, 06 October 2015 http://www.europeansources.info/record/meeting-economic-and-financial-affairs-council-06-october-2015/

The Irish Times, 06.10.15: EU says tax ruling ‘a revolution in transparency’ http://www.irishtimes.com/business/economy/eu-says-tax-ruling-a-revolution-in-transparency-1.2381139

EUObserver, 06.10.15: EU states to exchange sweetheart tax deal data https://euobserver.com/economic/130576

The New York Times, 06.10.15: E.U. to Force Members to Share Data on Multinationals’ Tax Deals http://www.nytimes.com/2015/10/07/business/eu-to-share-data-on-tax-deals-with-multinational-companies.html

The Wall Street Journal, 06.10.15: EU Finance Ministers Agree on Tax-Rulings Proposal http://www.wsj.com/articles/eu-finance-ministers-agree-tax-rulings-proposal-1444137741

Politico, 06.10.15: Europe’s tax crusade http://www.politico.eu/article/europes-tax-crusade-luxembourg-evasion-corporate-receipts/

EUObserver, 08.10.15: [Opinipn] Tax transparency: Keeping the public in the dark? https://euobserver.com/opinion/130608

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