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European Commission announces its plan to regulate tax advice in the EU

On 25 April 2022, the subcommittee on tax matters (FISC) of the European Parliament held a hearing on “how to reinforce the regulation of intermediaries to create an intermediary sector that ensures a fair and user-friendly tax system”. On this occasion, the European Commission publicly announced that it is working on a legislative proposal to regulate tax advice in the EU and that it will launch a public consultation on 11-12 May running until 20 July 2022 on this initiative. During the hearing, the Commission explained that it does not want to go after a specific profession and will rather focus on the action of providing tax advice. It also said that it does not intend to regulate the tax advising profession as such but rather to put a threshold of what behaviour is acceptable and what is not. The Commission promised to target the “rotten apples” and not to overburden the whole tax profession. In a press release, ETAF assessed the outcomes of the hearing and welcomed the announcement of the Commission as well as the growing attention given to this topic by European decision-makers.

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