Alexa
  • Directory of Taiwan

EU steps up fight against tax evasion by end 2013

EU steps up fight against tax evasion by end 2013

The European Union's leaders have agreed to push through a major policy to tackle tax evasion by the end of the year.
The EU said the 27 heads of state and governments agreed at summit in Brussels Wednesday to an automatic exchange of bank information among the bloc's tax authorities to catch tax cheats.
German Chancellor Angela Merkel says the agreement _ long resisted by Austria and Luxembourg _ marks a "breakthrough" in Europe's fight against tax evasion.
The EU says the policy will be finalized by the end of the year in parallel to negotiations on the same matter with countries such as Switzerland and Lichtenstein which are not EU members.
European officials say tax fraud costs the bloc an estimated 1 trillion euros ($1.3 trillion) a year.


Updated : 2021-07-29 01:15 GMT+08:00