Taxation: Council adopts directive on access to beneficial ownership information

On 6 December 2016, the Council adopted a directive granting access for tax authorities to information held by authorities responsible for the prevention of money laundering.

The directive will require member states to provide access to information on the beneficial ownership of companies. It will enable tax authorities to access that information in monitoring the proper application of rules on the automatic exchange of tax information. It will thus help prevent tax evasion and tax fraud.

The directive will apply as from 1 January 2018. It is one of a number of measures set out by the Commission in July 2016, in the wake of the April 2016 Panama Papers revelations.

• Primary Source

ESO: Background information: Tax authorities to gain access to beneficial ownership information http://www.europeansources.info/record/tax-authorities-to-gain-access-to-beneficial-ownership-information/

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