The EU commissioner trying to stop tax cheats from hiding money in Switzerland is puzzled why Austria and Luxembourg are standing in his way.
Algirdas Semeta told EUobserver that bank secrecy makes it impossible to say how much potential tax income is being lost even as EU countries cut wages and public services amid the financial crisis. But it is likely to be big bucks: Switzerland currently hands over €330 million a year in tax payments to EU countries, while its banks manage €1.5 t...
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Already a member? Login hereAndrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.
Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.