A reviewed “administrative cooperation directive” agreement have been agreed by the EU Council of Economic and Finance (ECOFIN) Ministers on October 14, 2014.

This reviewed agreement on the revised directive is aimed on promoting the automatic information exchange on capital gains, dividends, account balances, and other types of financial income. From 1 January 2016 the agreed proposal will come into effect.  However, the agreed proposal for Luxembourg and Austria will be effective from 1 January 2017.

In the future the European Commission (EC) has a plan to have new agreements with Switzerland, Monaco, Andorra, San Marino and Lichtenstein.