Tax authorities’ access to banking information (EU)

Further steps to secure access to banking information

The European Council has agreed on a proposal to further up the effort on money laudering and tax evasion. In short the member states of EU will be enabled to access information on beneficial ownership as of 1st January 2018.

 

Easier automatic exchange of information

A pinacal point of the legislation is to grant the member states more effective tools to share the necessary information. One of the elements in that will be that: “…where a financial account holder is an intermediary structure, financial institutions are required to look through that entity and report its beneficial ownership…”. As such, banks will be heavily involved with the compliance work and monitoring of their own (ultimate) clients.

 

Resources

Link to Danish tax auhtorities’ news 

Link to European Council News

 

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United Tax Network - Denmark is now Crossbord

The world is changing and so are we.

Our services are not limited to international tax, so we have changed our name to Crossbord, which better reflects all of how we can help you: 

We are your partner in all your global mobility situations where you cross the border in or out of Denmark.