The EU Automatic Exchange of Information Isn’t Working Between Member States

According to a recent European Commission report, the information shared between EU member states for the purpose of monitoring profit shifting “has little to no benefit in terms of prosecuting potential offenders or tax evaders.

Furthermore, even for member states that can use the information, the costs of operating the system are so high that the only tangible advantage to their tax authorities is worryingly only its scaremongering among EU taxpayers, rather than supplementary revenue from taxes.