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EU Passes Law On Mandatory Disclosure Of Tax Avoidance

Law360 (March 13, 2018, 1:23 PM EDT) -- Tax advisers will have to tell European Union authorities about avoidance schemes they market from 2020 under a law passed unanimously by the bloc’s finance ministers Tuesday.

Tuesday's decision follows an advisory vote in the European Parliament, which supported the proposal with a 541-33 vote. Lead lawmaker Emmanuel Maurel called for the tax avoidance industry to be accountable for the schemes they sell, hailing progress as “a victory over white-collar crime, the fraudsters, the profit-hiding experts and those who help them: the middlemen.”

According to the...
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