21 June 2016 ECOFIN reaches political agreement on Anti-Tax Avoidance Directive The Economic and Financial Affairs Council of the European Union (ECOFIN or the Council) reached final political agreement on June 21, regarding the Anti-Tax- Avoidance Directive (ATAD). At the ECOFIN meeting held on June 17, a final compromise text was put forward. Following the discussions, the President of the Council noted that almost all Member States could agree to it. The Presidency therefore announced a silence procedure giving Member States time to raise any objections they may have until June 20, at midnight. Since no objections were raised by that deadline, a unanimous agreement had been reached on the ATAD (formally titled Council Directive laying down rules against tax avoidance practices that directly affect the functioning of the internal market). A Tax Alert prepared by EY's EU Tax Services group, and attached below, provides additional details. Document ID: 2016-1079 |
