The European Commission has said the EU is building "the most comprehensive information exchange system in the world" to combat tax dodging.
Algirdas Semeta - the Lithuanian commissioner behind a series of new tax laws - made the claim in Brussels on Wednesday (12 June).
He told press his regime goes further than recent US legislation, the Fatca law, which says foreign banks can lose their US licence if they do not share information on US account holders.
"The EU system wil...
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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.