European Data Protection Digest

EC Urges Extension of Tax Info-Sharing

FINANCIAL PRIVACY—EU & U.S.

June 13, 2013

The European Commission is urging member states “to extend information-sharing between national tax authorities to cover all forms of financial income,” The Wall Street Journal reports. Under a move to extend the Administrative Cooperation Directive, EU member states “would automatically swap data on dividends, capital gains, all other forms of financial income and account balances,” the report states, noting the move seeks to have EU countries share as much information with each other as they do with the U.S. through its Foreign Account Tax Compliance Act in an effort to, as one official put it, “lead a strong attack against tax evasion.” (Registration may be required to access this story.)
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