Today the European Commission announced a tax transparency package aimed at combating corporate tax avoidance. The package includes a legislative proposal that would require member states to report every three months to all other member states on all cross-border tax rulings and advance pricing arrangements issued. Member states would have the ability to request additional information on any particular ruling or pricing arrangement. If approved, the proposal would apply to all rulings and pricing arrangements issued after the effective date, as well as all rulings and pricing arrangements issued within the last ten years that are still in force. The purpose of the proposal is to ensure comprehensive and effective administrative cooperation between tax administrations and to avoid abusive tax planning.