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An overview by ATOZ
Oliver R. Hoor and Marie Bentley of our Luxembourg firm, ATOZ, analyse a recent ECOFIN meeting, in which the EU Council agreed on a general approach regarding foreseen amendments to the directive on administrative cooperation in the area of taxation.
This general approach transpires in the Presidency compromise text of the draft Council Directive amending Directive 2011/16/EU on administrative cooperation in the field of taxation (“DAC”). The compromise text is dated 5 May, 2023, and aims to extend the scope of the reporting and automatic exchange of information on revenues from transactions in crypto-assets, as well as advance tax rulings granted to individuals when they relate to high value transactions or to individuals’ residence for tax purposes, the so-called “DAC8”.
Read the full article here.
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