Expanded scope of automatic exchange of information among EU States
Thursday 11 December 2014
The Economic and Financial Affairs Council approved, a directive that extends the scope for the automatic exchange of information between the tax authorities of Member States. The directive approved on December 9, 2014 revises the existing Mutual Assistance Directive by bringing interest, dividends, gross proceeds from the sale of financial assets and other income, as well as account balances, within the scope of the automatic exchange of information.
Member States, including Austria which waived its derogation, will start exchanging information automatically under the revised directive for the first time by the end of September 2017.
Several Member States have already indicated to begin with the exchange of information as early as the beginning of 2015.
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