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The EU is to unveil a plan to compel all member countries to exchange investment income and capital gains details as part of a new push against tax avoidance.
In an interview with the Financial Times EU tax commissioner Algirdas Semeta said a new proposal would be announced within months which will would force member states’ tax authorities to share more information about the financial affairs of citizens, private equity partners and hedge funds.
Last month the UK, France, Germany, Italy and Spain agreed an automatic data sharing deal, but this move would broaden the scope to include countries such as Luxembourg and Ireland, home to many of Europe’s largest investment funds.
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