The European Council confirmed the offer to provide to the tax authorities access to information, the contents of the authorities responsible for the prevention of money laundering.
If the owner of the financial account is an intermediary of structure, then Directives of the EU 2014/107/EU requires that financial institutions reported about the beneficial property right of the enterprise. The application of this provision relies on the information, the contents of the authorities responsible for the prevention of money laundering, in accordance with Directive 2015/849 / EU.
The Council said: “Access to this information will ensure that the tax authorities are better prepared to fulfill its monitoring obligations, so it helps to prevent tax evasion and tax fraud.”The proposal is one of many measures set out by the European Commission in July 2016, in connection with the leak Panamanian newspaper, and it will be apply 1 January 2018.
According to the Commission, the measure “guarantees, that tax authorities have provided access to the data provided by rules of anti-money laundering EU, especially consumer information on financial inspection and information in their national registries of beneficial ownership to fulfill their task not only in the context of anti-money laundering, and terrorist financing. “
“Indeed, the fact that members of the state currently has a choice whether or not to grant access to this information to the tax authorities, which limits the efficiency of tax audits. With access to this information, the tax authorities will be able to identify the person behind the opaque company, structure or enterprise and respond quickly to situations evasion and tax avoidance. “
As soon as the European Parliament has given its opinion, Council will formally adopt the Directive.