European Commission Presents Tax Transparency Package Including the Automatic Exchange of Information on Cross-Border Tax Rulings

On 18 March 2015, the European Commission presented a Tax Transparency Package to counter corporate tax avoidance and harmful tax competition in the EU. The main element included in the Package is a legislative proposal to introduce the automatic exchange of information between Member States on their tax rulings. Under the proposal, each EU Member State would be required to provide quarterly re…