Bank Secret: Brussels Increases Pressure on Austria

Bank Secret: Brussels Increases Pressure on Austria / Picture: © Flickr

Semeta underlines that the EU “must continue its fight against tax evasion”. Per year, revenues of more than 1,000bn are lost, he argues. However, “the reform is being prevented by only two member countries.”, he says. Luxembourg and Austria fear that the reform of the interest taxation directive would abolish the bank secret. The directive also contains the automatic…