The days of banking secrecy within the European Union appear to be numbered despite resistance from Luxembourg and Austria to the automatic sharing of banking information with other member state tax authorities.
The two states, along with Belgium, currently operate a temporary opt-out scheme from EU rules in the area that require the automatic sharing of data, applying instead a special withholding tax on the savings accounts of non-residents.
"But it is a transitional arrangeme...
Back our independent journalism by becoming a supporting member
Already a member? Login here