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ECOFIN has Agreed to Expand the Scope of Mandatory Automatic Information Exchange in the EU — Orbitax Tax News & Alerts

On 14 October 2014, the Economic and Finance Ministers Council of the EU (ECOFIN) announced that it has agreed on a draft directive to expand the scope of mandatory automatic exchange of information to include interest, dividends and other income, as well as account balances and sales proceeds from financial assets. The directive will be adopted at a future Council meeting after it has been finalized in all official languages.

Additional information can be found in the following ECOFIN Press Release.