European Commission Proposes Legislation on Automatic Exchange of Information As Mexico Requests to Join the Pilot Project

 On June 12, 2013, the European Commission proposed legislation to expand the amount of tax-related information automatically exchanged among all 27 European Union (EU) members to include dividends, capital gains, and other financial income and account balances.

[1] On June 11, 2013, Mexico’s Institute of Finance and Public Credit (SCHP) requested to join the European Union’s pilot tax information exchange, giving more momentum to the automatic exchange initiative of the EU.[2]