Algirdas Šemeta, European Commissioner for Taxation, Customs Union, Audit and Anti-Fraud, introduces the Directive on Administrative Cooperation (2011/16/EU) to increase transparency, improve information exchange and tighten cross-border cooperation, which he says are fundamental tools for fighting tax evasion.
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The new guidance is not meant to reflect a substantial change to UK law, but the requirement that tax advice is ‘likely to be correct’ imposes unrealistic expectations
China and a clutch of EU nations have voiced dissent after Estonia shot down the US side-by-side deal; in other news, HMRC has awarded companies contracts to help close the tax gap