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Bank Secret

EU Wants Austria to Give Up Bank Secret

Commissioner Algirdas Semeta threatens with a complaint against Austria. According tom him, Austria and Luxembourg are blocking the automatic information exchange.

January 25, 2013

Bank Secret: Brussels Increases Pressure on Austria

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

January 14, 2013

Bulgaria: Bank Secret Wobbles

The Bulgarian National Bank warns of an easing of the bank secret. The Bulgarian Parliament argues that the bank secret protects money laundering activities.

October 3, 2012

Bank Secret: Semeta Criticizes Austria´s Position

According to the EU Commissioner Algirdas Semeta, Austria´s bank secret is “out-dated”. He criticizes that Austria and Luxembourg still reject to give up the bank secret.

October 1, 2012

Austria Still Blocks Agreement on Taxation of Interest Income

The Commission of the European Union wishes Austria to give up its blockade against a reform of the direction on the taxation of interest income. Austria stands by its oppositional attitude.

June 27, 2012

Bank Secret: EU Commission is Frustrated

The European Commission is dissatisfied with Austria´s and Luxembourg´s blockage of the interest taxation directive.

May 16, 2012

Austria´s Bank Secret Endangered

„I will withstand.“ Maria Fekter, Austria´s Minister of Finance said. The resistance against the EU directive on the taxation of interest will not be given up, Fekter reaffirmed.

May 15, 2012

Austria and Switzerland Signed Tax Treaty

Austria´s Finance Minister Fekter signed the tax treaty with her Swiss colleague Eveline Widmer-Schlumpf. In 2013, additional tax intake of € 1.0bn is expected.

April 14, 2012

Passing On of Bank Information: FMA Defends Itself

Since, according to Wikileaks, the Austrian Financial Market Authority (FMA) has passed on bank data to the U.S., a position has been taken about the issue.

December 5, 2010

Identification Required for Savings Account Withdrawals

Since November 1, the implementation of the EU directive on anti-money laundering is in force. Customers therefore need not only a password, but also identification for a savings account withdrawal.

November 2, 2010

Tax Evaders Targeted by the Ministers of Finance

Budget problems plague the majority of EU countries. In addition to budget discipline, the prosecution of tax evaders is to be addressed.

October 18, 2010
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