On 5 July 2016, the European Commission adopted proposed transparency rules concerning terrorism financing, tax avoidance and money laundering. The proposed changes regarding tax avoidance and money laundering would involve amendments to the Fourth Anti-Money Laundering Directive (Directive (EU) 2015/849/EU) and the Administrative Directive (Directive 2011/16/EU). These include:
On the same date, the Commission also announced its plans to boost tax transparency in order to fight tax evasion and avoidance in the EU, which includes the propose rules above and certain other actions.
Click the following link for the Commission press release on the adopted proposals and the press release on the plans to boost tax transparency for additional information.