This article notes the decision of EU nations to swap data on cross-border tax rulings automatically every six months. Under the new measures, nations will no longer be able to decide what information is shared, when and with whom. The rules are expected to go into effect on January 1, 2017.
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The European Commission ruled against two of its’ member states tax rulings in Luxembourg and the Netherlands to recover between $22.3 million and $33.5 million in unpaid tax each from Starbucks and a Fiat Chrysler unit. This article looks at the commission’s determination that tax rulings granted to the two companies artificially lowered each firm’s tax burden and is illegal under European Union (EU) state aid rules.