EU Tax Data Exchange Regime Nets €6.8 Billion in Revenues

The European Union generated €6.8 billion ($7.8 billion) in additional revenues annually from a framework boosting exchange of tax information between authorities, the European Commission said Wednesday.

The country-by-country reporting regime accounted for the bulk of those gains, bringing in an estimated €5.6 billion annually in tax revenues, according to the European Commission’s evaluation report on the Directive on Administrative Cooperation, or DAC, in the field of taxation. The report evaluated revenues brought in from 2018-2023.

The directives cover automatic exchange of information, introduce reporting standards, and require country-by-country reporting for multinationals. They aim to improve data exchange ...