Austria opposes EU anti-tax evasion plan

The European Commission published draft proposals on Monday (2 February) that aim to reduce tax evasion throughout the EU by improving information exchange between its member states.

If implemented, the new measures would prevent members from invoking banking secrecy rules as a reason for refusing to disclose client information.

However, Austria reacted angrily to the new proposals, saying they would greatly reduce its competitiveness when dealing with banking rivals Switzerland...