THE EUROPEAN COMMISSION WELCOMES A POLITICAL AGREEMENT OF EU MEMBER STATES ON NEW TRANSPARENCY RULES FOR TAX INTERMEDIARIES – ACCOUNTANTS, LAWYERS, BANK AND CONSULTANTS.
Once in force, the new measures will oblige the tax intermediaries who provide their clients with cross border financial advices that could potentially facilitate tax avoidance, to report these structures to the local tax authorities. It is planned the EU Member States to exchange this information through a centralized database system.
It is expected the new regulation to be elaborated and enter in force in 2020.