EUROPEAN GOVERNMENTS BOOST COOPERATION OVER FIGHTING TAX REFORM

BY KEITH NUTHALL

EUROPEAN governments have backed reforms to fight tax evasion and fraud. Importantly, the European Union (EU) Council of Ministers has informally supported changes to the EU savings tax directive, to close a loophole where private citizens could protect bank account information by transferring money to accounts held by companies established to boost their privacy. The European Commission is also considering changing the law so that information about trusts, foundations and insurance policies are made available, along with bank ...


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