Tax authorities to gain access to beneficial ownership information

On 8 November 2016, the Council of the European Union agreed on a proposal granting access for tax authorities to information held by authorities responsible for the prevention of money laundering.

The proposal 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.

Access to that information would ensure that tax authorities are better equipped to fulfil their monitoring obligations. It will thus help prevent tax evasion and tax fraud.

• Primary Source

ESO: Background information: Fair Taxation: The Commission sets out next steps to increase tax transparency and tackle tax abuse http://www.europeansources.info/record/fair-taxation-the-commission-sets-out-next-steps-to-increase-tax-transparency-and-tackle-tax-abuse/

---