EU aims for tax ruling transparency this year
“It seems to be realistic to finalize the file on the automatic exchange of information on tax rulings within this year,” Valdis Dombrovskis, Vice President of the European Commission, has said, reports Tax News.
Dombrovskis made the comment during a press conference after a meeting of the Economic and Financial Affairs Council (Ecofin). He said the Council was “encouraged by the progress made on our March proposals that tax authorities exchange information on tax rulings automatically.”
Dombrovskis added that Ecofin hopes the incoming EU Presidency can finalize work on the project as soon as possible. Luxembourg will assume the Presidency of the European Union (EU) from Latvia for six months from July 1.
Work will continue at a technical level to enable Ecofin to reach an agreement on the proposals in the autumn. The Council has produced guidance on the scope of the information to be exchanged, the timing of the first exchanges, and the role the Commission could play in the context of information exchanges between EU member states.
