OpenLegislation

Division D Specific hallmarks concerning automatic exchange of information and beneficial ownershipF1

United Kingdom

Original text. Later amendments are not shown.

  1. 1An arrangement which may have the effect of undermining the reporting obligation under the laws implementing Union legislation or any equivalent agreements on the automatic exchange of Financial Account information, including agreements with third countries, or which takes advantage of the absence of such legislation or agreements. Such arrangements include at least the following:
  2. 2An arrangement involving a non-transparent legal or beneficial ownership chain with the use of persons, legal arrangements or structures:

Annotations

Textual amendments

F1

Inserted by Council Directive (EU) 2018/822 of 25 May 2018 amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation in relation to reportable cross-border arrangements.