On 6 December 2016, the Council of the EU adopted a Council Directive amending Directive 2011/16/EU as regards access to anti-money-laundering information by tax authorities with the purpose of granting access for tax authorities to (beneficial ownership) information held by authorities responsible for the prevention of money laundering.

The directive will require member states to provide access to information on the beneficial ownership of companies. It will enable tax authorities to access that information in monitoring the proper application of rules on the automatic exchange of tax information.

Member states will have until December 31, 2017 to transpose the directive into national laws and regulations and will apply as from January 1, 2018.

Click here to be forwarded to the text of the Council Directive amending Directive 2011/16/EU as regards access to anti-money-laundering information by tax authorities as made available on the website of the Council of the EU, which will open in a new window.

Copyright – internationaltaxplaza.info

Follow International Tax Plaza on Twitter (@IntTaxPlaza)

and

Follow International Tax Plaza on Facebook