On 4 December 2024 the Council of the EU reached an agreement on a proposed framework for Financial Data Access (FIDA) that aims to open the access of financial institutions to each other’s customer data.
On 14 May 2024 the Council reached an agreement (general approach) on safer and faster procedures to obtain double taxation relief, which will help boost cross-border investment and help fight tax abuse.
Today, the Council of the EU reached a political agreement on a new directive paving the way for the introduction of an electronic tax certificate for VAT exemptions. The directive will provide for an electronic certificate to replace the existing paper certificate that is used when goods are to be exempt from VAT, for example because they are imported for embassies, international organizations, or armed forces.
On 29 May 2017 the Council of the EU formally and unanimously adopted the Council Directive amending Directive (EU) 2016/1164 as regards hybrid mismatches with third countries (ATAD II).
On 7 December 2021 the Council reached agreement on a proposal to update EU rules on rates of value added tax (VAT). The updates ensure member states are treated equally and give them more flexibility to apply reduced and zero VAT rates. The rules will also phase out preferential treatments for environmentally harmful goods.
On 5 November 2024 the Council reached an agreement on new measures that will bring the EU’s value added tax (VAT) rules into the digital age. With new rules on electronic invoices and real-time data reporting, as well as business carried out through digital platforms, this package of legislation will fight tax fraud, support businesses, and promote digitalization.
Today, the Council adopted a directive amending EU rules on administrative cooperation in the area of taxation. The amendments mainly concern the reporting and automatic exchange of information on revenues from transactions in crypto-assets and on advance tax rulings for the wealthiest (high-net-worth) individuals.
Pending introduction of the new VAT system, four short-term 'quick fixes' will be made regarding the VAT aspects of trade between the member states. Discussions are ongoing on a definitive VAT system to replace the current 'transitional' VAT arrangements, which have been applied since 1993.
In conclusions approved on 5 October 2021, the Council decided to remove Anguilla, Dominica and Seychelles from the EU list of non-cooperative countries and territories for tax purposes. All three had previously been placed on the “black list” because they did not meet the EU’s tax transparency criteria of being ranked as at least ‘largely compliant’ by the OECD Global Forum regarding the exchange of information on request.
On 14 April 2025 the Council adopted a directive (DAC9) that will extend cooperation and information exchange in the area of minimum effective corporate taxation.
The Council of the European Union adopted its position at first reading on the proposed directive on the disclosure of income tax information by certain undertakings and branches, commonly referred to as the public country-by-country reporting (CBCR) directive, paving the way for its final adoption. The adoption of the Council’s position follows a provisional agreement reached with the European Parliament in June.
The EU Council today formally adopted new value added tax (VAT) rules for distance sales of imported goods. The new rules take the form of a directive which amends directive 2006/112/EC, known as the VAT directive.
On 6 June 2023 the EU-Council and the EU-Parliament have reached a provisional political agreement on the directive concerning financial services contracts concluded at a distance. The agreed text simplifies existing legislation, increases consumer protection, and creates a level playing field for financial services concluded online, via telephone or through other forms of remote marketing.
The Federal Ministry of Finance (MoF) published a draft law on March 20, to implement the ‘Pillar Two’ Directive ensuring a global minimum taxation for multinational groups and large domestic groups in the European Union (so-called Minimum Tax Directive Implementation Act - MinBestRL-UmsG). The publication of the German draft law follows the formal adoption by the EU Council to adopt Pillar Two on December 15, 2022.
The EU Council Directive for mandatory automatic exchange of tax information in cross-border arrangements provides that all intermediaries and, in their absence, the taxpayer involved in potentially aggressive cross-border tax arrangements (that may lead to tax avoidance and evasion) must report them to the competent tax authorities. In a Belgian case the European Court of Justice took the chance to comment on various general aspects of the Directive.
In two press statements the European Council approved the conclusions on a strategy for the EU’s engagement in global digital affairs and updates in the field of taxation of cooperation agreements with Switzerland, Liechtenstein, Andorra, Monaco and San Marino
The ECJ has held that an obligation on a German bank to report assets held by German customers of its Austrian branch to the German tax authorities does not restrict the bank’s freedom to establish itself in Austria.
The act transposing the EU mutual assistance directive on tax collection introduces a number of rotine statutory changes and thus serves as an annual tax act.
The European Parliament endorsed the first EU rules to trace crypto-asset transfers, prevent money laundering, as well as common rules on supervision and customer protection.
