Recent scandals show that ‘intermediaries’ (accountants, advisers, lawyers, banks etc.) play a major part in helping big companies and wealthy individuals escape their fair share of tax in the EU.

The culture of secrecy behind these tax schemes needs to change. The Commission’s proposal for new transparency rules for intermediaries will oblige advisers to notify authorities about cross-border techniques they sell that may help their clients avoid tax.

This information must be shared with the tax authorities of all the other Member States, so that they can better identify the regulatory weaknesses that allow some companies and individuals to substantially lower their tax bill.

The new rules cover any institution, company or individual providing tax advice which may result in tax avoidance.