Following recent discussions at the informal meeting of the ECOFIN Council in Dublin, Minister Michael Noonan, President of ECOFIN for the Irish Presidency and EU Commissioner for Taxation Algirdas Šemeta have written to all EU finance ministers in advance of the next ECOFIN meeting scheduled for 14 May. The letter identifies seven action points necessary for the purposes of progressing the EU’s anti-tax fraud and anti-evasion objectives.
The seven action points call for agreement on matters including:
the revised Savings Directive
the Commission’s Action Plan on tax fraud and evasion
EU coordination at G20 and OECD level on the Base Erosion and Profit Shifting initiative
Agreement on the VAT Anti-Fraud Package
Funding for better cooperation between Member State Revenue Authorities
Agreement that automatic exchange of information should involve a broader range of income and capital payments and
coordinated action in the EU against aggressive tax planning.
Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.