Global

Details

  • Service: Tax, International Corporate Tax, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 12/18/2012

EU - Reminder that tax evasion rules are effective 2013 

December 18: The European Commission (EC) issued an announcement that serves as a reminder that new rules to improve the EU Member States’ ability to assess and collect the taxes that they are due will be effective 1 January 2013.

According to the EC release (17 December 2012), the new measures:


  • Bring an end to “bank secrecy” and state that one EU Member State cannot refuse to give information to another just because it is held by a financial institution
  • Provide “practical and effective measures” to improve administrative cooperation on tax matters
  • Authorize tax officials to participate in administrative enquiries in another EU Member State
  • Allow tax officials to request that their tax documents and decisions are notified elsewhere in the EU

For additional information, see TaxNewsFlash-Europe: EC - Plan to address tax evasion, aggressive tax planning




©2012 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. All rights reserved.


The KPMG logo and name are trademarks of KPMG International.


KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever.


The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.


Direct comments, including requests for subscriptions, to go-fmtaxnewsflash@kpmg.com.
For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at:

+ 1 202 533 4366

1801 K Street NW
Washington, DC 20006.

 

Share this

Share this

Subscribe

Subscribe to receive the latest TaxNewsFlash email alerts (you must select the option for TaxNewsFlash)


Already a Subscriber? Login


Not a member? Subscribe now

Contact us