18.12.2015 Official Journal of the European Union L 332/1 (Legislative acts) DIRECTIVES COUNCIL DIRECTIVE (EU) 2015/2376 of 8 December 2015 amending Directive 2011/16/EU as regards mandatory automatic exchange of information in the field of taxation THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty on the Functioning of the European Union, and in particular Article 115 thereof, Having regard to the proposal from the European Commission, After transmission of the draft legislative act to the national parliaments, Having regard to the opinion of the European Parliament (%), Having regard to the opinion of the European Economic and Social Committee (3), Having regard to the opinion of the Committee of the Regions (), Acting in accordance with a special legislative procedure, Whereas: (1)  The challenge posed by cross-border tax avoidance, aggressive tax planning and harmful tax competition has increased considerably and has become a major focus of concern within the Union and at global level. Tax base erosion is considerably reducing national tax revenues, which hinders Member States in applying growth-friendly tax policies. The issuance of advance tax rulings, which facilitate the consistent and transparent application of the law, is common practice, including in the Union. By providing certainty for business, clarification of tax law for taxpayers can encourage investment and compliance with the law and can therefore be conducive to the objective of further developing the single market in the Union on the basis of the principles and freedoms underlying the Treaties. However, rulings concerning tax-driven structures have, in certain cases, led to a low level of taxation of artificially high amounts of income in the country issuing, amending or renewing the advance ruling and left artificially low amounts of income to be taxed in any other countries involved. An increase in transparency is therefore urgently required. The tools and mechanisms established by Council Directive 2011/16/EU (*) need to be enhanced in order to achieve this. () The European Council, in its conclusions of 18 December 2014, underlined the urgent need to advance efforts in the fight against tax avoidance and aggressive tax planning, both at global and Union levels. Stressing the importance of transparency, the European Council welcomed the Commission’s intention to submit a proposal on the automatic exchange of information on tax rulings in the Union. (") Opinion of 27 October 2015 (not yet published in the Official Journal). () OJ C332,8.10.2015, p. 64. (*) Opinion of 14 October 2015 (not yet published in the Official Journal). (*) Council Directive 2011/16/EU ofy 15 February 2011 on administrative cooperation in the field of taxation and repealing Directive 77]799[EEC (OJ L 64,11.3.2011,p. 1).