The EUROPEAN commission proposed on Wednesday with stricter transparency rules for banks, lawyers, tax advisors and auditors in order to combat tax evasion through aggressive tax planning.
”Today, proposes that intermediaries that creates and sells plans for tax evasion should be held responsible”, said commission vice-president for the financial market, Valdis Dombrovskis, in a statement.
”This should result in increased tax revenues for the EU countries,” he continued.
Aggressive tax planning for businesses and individuals are often cross-border.
The commission has identified the characteristics of transactions that must be reported. These include when the losses used to reduce taxable income, the use of particularly favourable skatteregimer, as well as the approach by countries not complying with international skattestandarder.
EU countries to automatically exchange information on skatteupplägg through a common database.
Notification of set-up does not mean that these are necessarily illegal, but that they deserve to be examined.
Tradingportalen/Agency Directly.
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