Measures to boost tax transparency and data exchange in the European Union generate between 5 billion and 10 billion euros ($5.8 billion-$11.6 billion) annually in additional revenue, though data could still be used more efficiently, a European Commission report found.
According to the Annual Review of Taxation report published Tuesday, directives on administrative cooperation in the field of taxation, specifically DACs 1, 2, and 4, have helped boost revenue by improving data exchange between member states.
The directives cover automatic exchange of information, introduce reporting standards, and require country-by-country reporting for multinationals.
- Data received by member states ...
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