Commission welcomes adoption of far-reaching new transparency rules for tax advisers in the EU The European Commission has welcomed the political agreement reached by EU Member States today on new transparency rules for intermediaries – such as tax advisers, accountants, banks and lawyers – who design and promote tax planning schemes for their clients. The...Read More

Bahamas, Saint Kitts and Nevis added to EU blacklist The EU’s list of non-cooperative jurisdictions in taxation matters has been adjusted in the light of: commitments made by listed jurisdictions; an assessment of jurisdictions for which no listing decision had yet been taken. Moves have also been made to improve transparency in the listing process....Read More

Regulations demand disclosure of company beneficial ownership To tackle tax evasion, Indonesia’s President Joko Widodo has issued regulations requiring all businesses to disclose details of who beneficially owns the entity. The move will give Indonesia’s tax authorities more data with which to tackle tax evasion and money laundering, it was said. It will also support...Read More

Practitioners to be forced to report ‘aggressive’ cross-border tax planning The EU Council of Finance Ministers has approved a draft Directive requiring tax advisors, accountants and lawyers to report corporate cross-border tax planning schemes that bear ‘hallmarks’ suggesting they may be considered aggressive. The reports will be automatically shared among Member States, which have until...Read More

Value-added tax on yachts: Commission opens infringement procedures against Cyprus, Greece and Malta The Commission decided today to send letters of formal notice to Cyprus, Greece and Malta for not levying the correct amount of Value-Added Tax (VAT) on the provision of yachts. This issue can generate major distortions of competition and featured heavily in...Read More