TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

Commission pursues Member States to put in place new rules for exchange of tax rulings

The European Commission has issued reasoned opinions to Bulgaria, Cyprus and Portugal for failing to transpose into domestic legislation new measures on the automatic exchange of tax rulings between EU tax authorities. Member States were obliged to transpose these measures by 31 December 2016.

The three countries in question have a two month deadline to reply to the Commission. In the absence of a satisfactory reply, the Commission may take a case to the Court of Justice of the European Union.

The Commission was also about to take action against the Czech Republic, Greece, Hungary and Poland but closed the infringement cases when these states put the necessary domestic legislation in place. The Commission says it now plans to assess whether the legislation of all Member States comply with all requirements of the new rules.