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On May 23, 2018 the OECD released the first peer reviews of the Country-by-Country (CbC) reporting initiative (BEPS Action 13). The OECD has compiled these peer reviews in one report.
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There were several VAT topics on the agenda for the May 25, 2018 meeting of the Economic and Financial Affairs (ECOFIN) Council.
On the website of the Council an “OUTCOME OF THE COUNCIL MEETING 3619th Council meeting Economic and Financial Affairs” is published. In this outcome the following is noted with respect to each of these VAT topics:
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During its meeting of May 25, 2018 the Economic and Financial Affairs (ECOFIN) Council again removed 2 jurisdictions from the EU list of non-cooperative jurisdictions for tax purposes. This time Bahamas and Saint Kitts and Nevis were removed from the list.
Read more: ECOFIN removes Bahamas and Saint Kitts and Nevis from its list of non-cooperative tax...
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During its meeting of May 25, 2018 the Economic and Financial Affairs (ECOFIN) Council adopted conclusions on the EU standard provision on good governance in tax matters for (non-tax) agreements with third countries.
Read more: ECOFIN Council agrees on a standard provision for agreements with third countries
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During its meeting of May 25, 2018 the Economic and Financial Affairs (ECOFIN) Council adopted a COUNCIL DIRECTIVE amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements.
Read more: ECOFIN Council adopts transparency rules for tax intermediaries
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