Press Release: EU and Andorra sign deal on automatic exchange of tax data

On 12 February 2016, the European Union and Andorra signed an agreement aimed at improving tax compliance by private savers.

The agreement will contribute to efforts to clamp down on tax evasion, by requiring the EU member states and Andorra to exchange information automatically.

The European Parliament's plenary session endorsed the agreement on 9 March 2016.

• Primary Source

European Commission: DG Communication: RAPID: IP/16/288, 12.02.16: Fighting tax evasion: EU and Andorra sign new tax transparency agreement http://europa.eu/rapid/press-release_IP-16-288_en.htm

ESO: Background information: Proposal for a Council Decision on the conclusion, on behalf of the European Union, of the Amending Protocol to the Agreement between the European Community and the Principality of Andorra providing for measures equivalent to those laid down in Council Directive 2003/48/EC on taxation of savings income in the form of interest payments http://www.europeansources.info/record/proposal-for-a-council-decision-on-the-conclusion-on-behalf-of-the-european-union-of-the-amending-protocol-to-the-agreement-between-the-european-community-and-the-principality-of-andorra-providing-f/

ESO: Background information: Fighting tax evasion: EU and Andorra finalise negotiations on new tax transparency agreement http://www.europeansources.info/record/press-release-fighting-tax-evasion-eu-and-andorra-finalise-negotiations-on-new-tax-transparency-agreement/

EurActiv, 15.02.16: EU signs transparency agreement with Andorra http://www.euractiv.com/section/euro-finance/news/eu-signs-transparency-agreement-with-andorra/

European Parliament: Newsroom: Press Release, 09.03.16: Ending EU citizens' bank secrecy in Andorra http://www.europarl.europa.eu/news/en/news-room/20160303IPR16944/

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