The EU commissioner for taxation, Algirdas Semeta, has urged Austria to stop being the odd man out in the European bloc by clinging to banking secrecy laws its EU partners want to see abolished. "Austria certainly doesn't want to be isolated over the long term," Semeta told the latest edition of the German news weekly Der Spiegel. Once Austria drops its defence of banking secrecy, he said, the EU will be able to pass a directive further reinforcing one already in force from this year that promotes the sharing of bank account information between EU member states. The EU push to establish bank data sharing across the bloc has gathered momentum in recent weeks as Europe struggles with a severe economic malaise and the eurozone teeters under a debt crisis. Austria is the last hold-out to the initiative, refusing to participate in a blanket automatic exchange of information on EU residents who have Austrian bank accounts. Vienna has said it is willing to discuss lifting banking secrecy for foreign depositors, but not for Austrians. Austria's finance minister, Maria Fekter, insisted though that individual privacy would not be compromised.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor