On 22 December 2021, European Commission published the Proposal for a Council Directive laying down rules to prevent the misuse of shell entities for tax purposes and amending Directive 2011/16/EU (COM(2021) 565 final / 2021/0434 (CNS)) to amend the DAC1 (2011/16/EU).
The condensed text below shows the proposed amendments from the COM(2021) 565 final / 2021/0434 (CNS) for affected provisions only.
Provisions amended
- Article 3 Definitions
- Article 20 Standard forms and computerised formats
- Article 21 Practical arrangements
Provisions inserted
- Article 8ad Scope and conditions of mandatory automatic exchange of information on undertakings required to report on indicators of minimum substance
Article 3 Definitions
For the purposes of this Directive the following definitions shall apply:
1. "competent authority" of a Member State means the authority which has been designated as such by that Member State. When acting pursuant to this Directive, the central liaison office, a liaison d
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