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

Published: 23 November 2016

In the wake of several tax evasion scandals, including the “Panama Papers” revelations, Parliament has backed Council’s position, and given the go ahead, by 590 votes to 32, with 64 abstentions, for tax authorities across Europe to automatically share information about bank account holders.

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

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