Austria and Luxembourg Block EU’s Plans on Savings Tax Agreements

17 May 2012
 
Austria and Luxembourg have rejected the European Commission’s plans to negotiate new and stronger savings tax agreements with Switzerland, Monaco, Liechtenstein, Andorra and San Marino.
 
The European Commission’s desire is to conclude a treaty and strengthen common instruments with third countries against tax evasion, to abolish banking secrecy and to ensure an automatic exchange of data with third states.
 
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