EU Economic and Financial Affairs Council Adopts Directive for Exchange of CbC Reports and Commission Conclusions on VAT; Holds off on Anti Tax Avoidance Directive

On 25 May 2016, the EU Economic and Financial Affairs Council (ECOFIN) held a meeting to discuss the European Commission's package of measures targeted at corporate tax avoidance in the EU ({News-2016-01-29/P/2- previous coverage}) and the Commission's Action Plan on VAT ({News-2016-04-08/P/2- previous coverage}). The Council is comprised of the finance ministers from each EU Member State.

Corporate Tax Avoidance Package

Regarding the corporate tax avoidance package, the Council adopted th…