# Council Directive 2011/16/EU of 15 February 2011 on administrative cooperation in the field of taxation and repealing Directive 77/799/EEC, Division 3

Extent: E+W+S+N.I.

An arrangement which includes circular transactions resulting in the round-tripping of funds, namely through involving interposed entities without other primary commercial function or transactions that offset or cancel each other or that have other similar features.

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Source: https://www.legislation.gov.uk/eudr/2011/16/annex/IV/part/II/division/B/division/3 (the official version)
Page: https://openlegislation.uk/eu-directive-2011-16/annex-IV/part-II/division-B/division-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.