- MEPs in the economic and monetary affairs committee have proposed amendments to the existing rules on taxation information exchange and administrative cooperation.
- The changes were adopted with 43 votes in favor, 4 against, and 5 abstentions, and will now be presented for a plenary vote and then to member states for consideration.
- The rapporteur for the House’s opinion, Rasmus Andresen, stated that they favor common minimum penalties for non-reporting, a definition of high net worth individuals, and expanding what needs to be exchanged, such as income and capital gains from financial assets and luxurious assets.
- They also requested the Commission to consider setting up a European Taxpayer Identification Number.
Source
- europarl.europa.eu
- MEPs seek to inject more ambition into reform of rules on exchange of tax information
Latest Posts in "European Union"
- EU Import VAT Deferment: A Strategic Tool Amid Reciprocal Tariff Challenges
- EU Commission Reveals Plan to Implement VAT in the Digital Age (ViDA) Reform
- EU ViDA Implementation: Potential Risks and Pitfalls
- Briefing document & Podcast: ECJ C-436/24 (Lyko) VAT on Loyalty Programs
- AI Transforms VAT/GST Compliance Worldwide: What Companies Need to Do to Keep Pace