EU Push For Savings-Tax Deal Fought By Luxembourg, Austria
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The European Union’s push to strengthen its fight against tax evasion with an extended savings accord by the end of this year may founder on opposition from Austria and Luxembourg.
Luxembourg Finance Minister Luc Frieden said he was “most surprised” that the savings-tax proposal came up for discussion at a meeting of EU finance chiefs in Brussels today. No decisions can be taken on extending the scope of the bloc’s existing law until the European Commission, the EU’s executive arm, has completed talks on the issue with Switzerland, Liechtenstein, Andorra, San Marino and Monaco, he said.