Weekly Tax News – 14 May 2018

Council Directive on disclosure rules for tax intermediaries formally adopted

After the political agreement reached in March, on 4 May 2018 the Council of the EU has formally adopted the Council Directive amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements. The directive is mandatory for the Member States, that shall adopt the respective regulations by 31 December 2019 with the new reporting requirements entering into force on 1 July 2020. The first exchange of information between Member States will take place by 31 October 2020 and then every three months. 

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Macron relaunched the need of taxing digital giants

On 10 May 2018, President Emmanuel Macron received the Charlemagne Prize, awarded every year since 1950 for work done in the service of European unification. Amongst others, in his speech in Aachen, the French president stressed once more the importance of build a digital European sovereignty, that means protecting European citizens and taxing in a fair way the actors that currently “do not pay any tax” in the EU marketplace.

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