The European Union moved closer to agreement on a coordinated clampdown on tax evasion as a total of nine countries backed an initiative for automatic sharing of bank details across borders.
The bloc's six biggest nations won support from the Netherlands, Belgium and Romania for their proposal to adopt the U.S.'s FATCA information-exchange program, EU Tax Commissioner Algirdas Semeta said in Dublin Friday. Semeta also said the 27-nation EU is closing in on updates to a savings tax accord as holdouts Luxembourg and Austria show willingness to compromise.
“I see a clear window of opportunity,” Semeta told journalists on the long-delayed measure requiring nations to exchange information on savings income across borders. “Considering the strong political will, I think we'll be able to manage” an agreement on it by next month, he said.
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