THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty on the Functioning of the European Union, and in particular Article 113 and 115 thereof,
Having regard to the proposal from the European Commission,
After transmission of the draft legislative act to the national parliaments,
Having regard to the opinion of the European Parliament [Opinion of 1 March 2018 (not yet published in the Official Journal).],
Having regard to the opinion of the European Economic and Social Committee [Opinion of 18 January 2018 (not yet published in the Official Journal).],
Acting in accordance with a special legislative procedure,
Whereas:
(1) In order to accommodate new initiatives in the field of tax transparency at the level of the Union, Council Directive 2011/16/EU [Council Directive 2011/16/EU of 15 February 2011 on administrative cooperation in the field of taxation and repealing Directive 77/799/EEC (OJ L 64, 11.3.2011, p. 1).] has been the subject of a series of amendments over the last fe
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