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Semeta Confident Austria and Luxembourg Stop Blocking

Politics ♦ Published: May 6, 2013; 19:36 ♦ (Vindobona)

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EU Tax Commissioner Algirdas Semeta does not expect any blocking by Austria for the loosening of the bank secret for foreigners and the transition to the automatic exchange of information.

Semeta Confident Austria and Luxembourg Stop Blocking / Picture: © Wikipedia / Valsts kanceleja/State Chancellery

In an interview with the Financial Times Semeta announced that in the next months a proposal for reforms has to be handed in which involves the automatic exchange of information for capital gains, licenses and dividends.

Semeta explained he was positive that the recent tax scandals in France and Germany have enhanced the political will to more be open for more transparency. He…