Connect with us

EU

Europe gives #Andorra green light on tax

SHARE:

Published

10 years ago

on

We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. You can unsubscribe at any time.

Tusk-takes-overOn Tuesday, 20 September 2016, the Council approved the conclusion of an agreement with Andorra that will improve tax compliance by private savers. 

The agreement will help clamp down on tax evasion by requiring EU member states and Andorra to exchange information automatically.

This will give their tax administrations improved cross-border access to information on the financial accounts of each others residents.

The agreement upgrades a 2004 agreement that obliged Andorra to apply measures equivalent to those in an EU directive on the taxation of savings income. It will extend the automatic exchange of information on financial accounts in order to prevent taxpayers from hiding capital representing income or assets for which tax has not been paid.

The new agreement was signed on 12 February 2016. It was concluded (on 20 September) at a meeting of the General Affairs Council, without discussion.

Share this article:

Share this:
Related Topics:
EU Reporter publishes articles from a variety of outside sources which express a wide range of viewpoints. The positions taken in these articles are not necessarily those of EU Reporter. Please see EU Reporter’s full Terms and Conditions of publication for more information EU Reporter embraces artificial intelligence as a tool to enhance journalistic quality, efficiency, and accessibility, while maintaining strict human editorial oversight, ethical standards, and transparency in all AI-assisted content. Please see EU Reporter’s full A.I. Policy for more information.
Advertisement

Trending