The Economic and Financial Affairs Council (Ecofin) held its first discussion last month on the European Commission’s package of proposals aimed at strengthening EU rules to prevent corporate tax avoidance.

The Netherlands presidency has set an ambitious timetable for work on the package. It foresees political agreement before June 2016 on:

• a proposal to boost the exchange of tax-related information on the activities of multinational companies;
• proposed rules to tackle some of the most prevalent tax avoidance practices.

Work will be taken in phases, the ambition being to reach an agreement on the first directive this month and to move as rapidly as possible on the other elements according to the press release issued.