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Bank Secret: Brussels Increases Pressure on Austria

Published: January 14, 2013; 23:16 · (Vindobona)

EU-Commissioner Algirdas Semeta calls Austria and Luxembourg to give up their blockade against the reform of the interest taxation directive.

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…

This article includes a total of 274 words.

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