Tax evasion: MEPs set to back automatic exchange of data to track account owners 

In the wake of several tax evasion scandals, including the “Panama Papers” revelations, Council and Parliament want to enable tax authorities across Europe to share information about bank account holders automatically under a proposal to be voted by MEPs on Tuesday.

The proposal would enable and oblige tax authorities with anti-money laundering responsibilities in any EU country to share information such as bank account balances, interest income and dividends, with their counterparts in other member states automatically.

The draft text says that links between money laundering, the funding of terrorism, organised crime and tax evasion, highlight the need for close cooperation and coordination among EU countries.



The amending proposal to update Directive 2011/16/EU was tabled by the Commission in July 2016 and endorsed by member states in September. Parliament’s vote would allow it to enter into force immediately and member states must implement it before the end of 2017.

Procedure: Consultation

Procedure Code: 2016/0209(CNS)

Debate: Tuesday, 22 November

Vote:  Tuesday, 22 November


#monerylaundering #taxevasion