EU Agrees on Proposal Requiring Reporting by Tax Intermediaries of Aggressive Tax Planning

On March 13, 2018, the Economic and Financial Affairs Council of the European Union reached agreement on a proposal to achieve greater transparency in tax planning schemes.  In particular, the directive is aimed at preventing aggressive tax planning by enabling increased scrutiny of the activities of tax intermediaries, including tax advisors, accountants, and lawyers who design and/or promote tax planning schemes