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The European Commission has published measures to enhance transparency.
The European Commission has set out the next steps in its campaign to boost tax transparency to fight evasion and avoidance in the EU taking into account the problems highlighted in the wake of the Panama papers. Full details are here.
Key actions include:
- Tax authorities should have access to national anti-money laundering information particularly beneficial ownership of companies trusts and funds and due diligence information.
- The Anti-Money Laundering Directive will be amended so that existing and new accounts will be subject to due diligence controls.
- The commission will examine how member states could automatically exchange their national information on beneficial owners of companies and trusts.
- Promoting tax good governance worldwide and tackling unco-operative tax jurisdictions.
- An assessesment of the additional sectorial measures to increase the...
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