EU’s Coalition of Nations Backing Tax Data Project Grows to 17

The European Union’s push for a coordinated clampdown on tax evasion gathered pace as the number of countries backing a pilot project for automatic sharing of bank details across borders rose to 17.

The coalition of governments, which includes the EU’s six largest members, said today they “strongly support the initiative for a pilot of multilateral automatic information exchange,” based on the U.S. FATCA program.

“We invite all EU member states and other countries to commit to join this initiative with the aim of rapidly creating a truly global system” that would “mark a step change in our ability to tackle tax evasion,” the countries said in a statement issued following a meeting of EU finance ministers today in Brussels.

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