Council of the EU Adopts Directive on Access to Beneficial Ownership Information

During the 6 December 2016 meeting of the Council of the EU, the Council adopted a directive granting access for tax authorities to information held by authorities responsible for the prevention of money laundering ({News-2016-11-28/P/2- previous coverage}). The directive will require member states to provide access to information on the beneficial ownership of companies. It will enable tax authorities to access that information in monitoring the proper application of rules on the automatic e…