After Brexit, EU proposes tougher tax rules on trusts

By: | Published: July 4, 2016 9:17 PM

The European Commission will propose on Tuesday stricter rules on trusts to prevent tax evasion, according to draft legislation seen by Reuters, in a move that Britain has long opposed and which was deferred until after the Brexit referendum.

The European Commission will propose on Tuesday stricter rules on trusts to prevent tax evasion, according to draft legislation seen by Reuters, in a move that Britain has long opposed and which was deferred until after the Brexit referendum.

The EU push to identify owners of trusts has been in the making for years but British Prime Minister David Cameron had succeeded in blocking past attempts by EU authorities, citing a need for privacy for British trusts used to manage inheritances.
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