TaxAdministrationEU anti-tax evasion drive hits Swiss roadblock

EU anti-tax evasion drive hits Swiss roadblock

The European Union's continued attempts to crack down on tax evasion received a blow yesterday when Swiss demands that its right to banking secrecy be protected were rejected by Luxembourg.

Link: EU directive puts pressure on directors

Switzerland, which is outside the EU, has demanded assurances that the EU does not violate its banking secrecy over cases of tax evasion – which remains legal within Switzerland, reported the Financial Times.

But the prime minister of Luxembourg, Jean-Claude Juncker, said yesterday that he would not accept any deals that treat third party states any differently to EU states.

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