Agreement on the exchange of tax information

9 Mar 2016 01:44 PM

EU economic and financial affairs ministers (Ecofin) met yesterday in Brussels reached political agreement on the exchange of tax information. The agreement was announced by Dutch finance minister Jeroen Dijsselbloem at a press conference following the meeting.

Jeroen Dijsselbloem photo: European Union

Anti-tax avoidance measure

The exchange of information between tax authorities is a key measure to prevent tax avoidance in the EU.

A new Directive will require large companies to file country-by-country reports on the taxes they pay. ‘The Directive will make the approach to tackling tax avoidance more transparent,’ said Mr Dijsselbloem.

EU’s economic performance

The Ecofin ministers also discussed the EU’s economic performance, banking union and the need for sustainable public finances.