23 Nov 2016, 12:34 pm
Changes to a 2011 directive on "administrative cooperation" in tax matters come into force immediately, and must be implemented by member states before the end of 2017, according to the announcement.
The changes were proposed by the European Commission in July in response to several high-profile cases of tax evasion, including the so-called 'Panama Papers' leaks. EU member states endorsed the Commission's proposal in September.
"Huge efforts made in transparency are the only way to fight against this scourge [tax evasion] that affects public finances," said Emmanuel Maurel, the French MEP who acted as rapporteur on the parliament's position.
The MEPs voted 590 votes to 32 in favour of the measures, with 64 abstentions.
Once implemented, the new rules will both enable and oblige tax authorities that have anti-money laundering responsibilities to automatically share bank account information with their counterparts in other member states, wherever they are in the EU. The information covered includes bank account balances, interest income and dividends.
The resolution voted on by MEPs highlighted the need for "close cooperation and coordination among EU countries", given the close links between money laundering, terrorist financing, organised crime and tax evasion.