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EU tax agencies granted access to taxpayer data collected under AML legislation

05/01/2018 News Team

The EU Commission has welcomed the entry into force of new rules obliging Member States to give tax authorities access to data collected under anti-money laundering legislation. 

As of 1 January 2018, national tax authorities will have direct access to information on the beneficial owners of companies, trusts and other entities, as well as customer due diligence records of companies. The new arrangements should help tax authorities in the fight against the types of structures highlighted in the 'Paradise Papers'. 

Pierre Moscovici, Commissioner for Economic and Financial Affairs, Taxation and Customs, said: "We want to give tax authorities crucial information on the individuals behind any company or trust. This is essential for them to be able to identify and clamp down on tax evaders. To do this, tax authorities will now have access to anti-money laundering information.” 

The new amended rules, enshrined in the Directive on Administrative Cooperation, will give tax authorities additional access and enable them to react quickly and efficiently to cases of tax evasion and avoidance. 

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