Last week, while showcasing draft EU laws on tax transparency, commissioner Algirdas Semeta told media in Brussels he is building "the most comprehensive information exchange system in the world."
He added: "The EU system will become even broader than the US system."
It is an astonishing claim.
The wide-reaching impact of the new US regime - the Foreign Account Tax Compliance Act (Fatca), which came into force on 1 January - has been demonstrated by a storm of angry reaction...
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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.