The European Parliament adopted the recommendations in the report of its special committee on financial crimes, tax evasion and tax avoidance (TAX3) on Tuesday 26 March. The recommendations - more than 200 in number - focus on improving cooperation between national authorities and setting up new enforcement bodies at EU and global levels. The report is critical of certain member states that were said to display traits of tax havens and facilitate aggressive tax planning and expresses concern about "the lack of political will" from member states generally to take substantial steps in the fight against financial crime, tax evasion and tax avoidance.

In relation to the UK, although Brexit - and the UK's place in the world afterwards - looms large, the Chancellor's Spring Statement celebrated the Government's achievements in tackling tax evasion and avoidance and introduced HMRC's expanded offshore tax compliance strategy. This was followed by a staunch defence of the disguised remuneration loan charge and the new 12-year time limit for assessments where a loss of tax involves an offshore matter or an offshore transfer. Moreover, as the TAX3 report notes, regardless of developments after Brexit, the UK will remain a member of the OECD bound by its OECD BEPS Action Plan recommendations and other tax good governance actions. The expectation therefore is that the UK's efforts against tax evasion and tax avoidance will only increase.

The report is critical of certain member states that were said to display traits of tax havens and facilitate aggressive tax planning and expresses concern about "the lack of political will" from member states generally to take substantial steps in the fight against financial crime, tax evasion and tax avoidance.

http://www.europarl.europa.eu/committees/en/tax3/publications.html