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

ECOFIN vote in automatic reporting of tax planning schemes

The European Council of the European Union (ECOFIN) recently adopted rules aimed at boosting transparency to prevent aggressive cross-border tax planning. The directive targets intermediaries such as tax advisors, accountants and lawyers that design and/or promote tax planning schemes. It will require them to report schemes that are potentially aggressive.

The information received will be automatically exchanged through a centralised database. Penalties will be imposed on intermediaries that do not comply. Member States have until 31 December 2019 to transpose the directive into national laws and regulations.