Application Of New Rules Regarding The Mandatory Exchange Of Information On Cross-Border Rulings

As of 1 January 2017 EU Member States are required to apply the automatic exchange of information on all new cross-border tax rulings that they release.

Application of Council Directive

The new regulations state that the competent authorities of a Member State shall disclose information to the competent authorities of all the other Member States, as well as the European Commission, before January 1, 2018. Information shall include a defined set of basic information that would be accessible to all Member States. Moreover, the information provided should not result in the disclosure of a commercial, industrial or professional secret or of a commercial process, or disclosure of information which would be contrary to public policy.

European Commission

Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs, declared: "We have a duty to make corporate taxation fairer and more transparent, and to use every means possible to block tax abuse and profit shifting. The entry into force of the automatic exchange of information on cross-border tax rulings on 1 January marks a major step forward. It equips Member States and their national tax administrations with the information they need to detect certain abusive tax practices and take the necessary action in response."

The  Council Directive (EU) 2015/2376 of 8 December 2015 amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation can be found here.

Source: European Commission, International Tax Plaza

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