On 6 December, the Council of the EU adopted a directive granting tax authorities access to information held by authorities responsible for the prevention of money laundering, including the requirement for member states to provide access to information on the beneficial ownership of companies.The directive, which amends the administrative cooperation directive, will apply from 1 January 2018.
This is part of a package of measures first set out by the European Commission in July 2016, in the wake of the ‘Panama papers’ revelations.
On 6 December, the Council of the EU adopted a directive granting tax authorities access to information held by authorities responsible for the prevention of money laundering, including the requirement for member states to provide access to information on the beneficial ownership of companies.The directive, which amends the administrative cooperation directive, will apply from 1 January 2018.
This is part of a package of measures first set out by the European Commission in July 2016, in the wake of the ‘Panama papers’ revelations.
