Austria has accused Britain of being a haven for money laundering and tax evasion in response to pressure from EU to reveal depositors’ information to tax authorities.
In a meeting in Dublin, Europe's finance ministers increased pressure on Austria to follow Luxembourg's example and let information on European banking depositors be exposed to EU tax authorities.
But, Maria Fekter, the Austrian finance minister, promised to "fight like a lion" against the demands, refusing to change her country's laws until Britain ends tax haven and banking secrecy laws in offshore financial centres, such as the Channel Islands.
"Austria is sticking to bank secrecy. We fight tax evasion and money laundering," she said.
"Great Britain has many money laundering centres and tax havens in its immediate legal remit - the Channel Islands Gibraltar, the Cayman Islands, Virgin Islands. These are all hot spots for tax evasion and money laundering", the minister added. Full story...
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In a meeting in Dublin, Europe's finance ministers increased pressure on Austria to follow Luxembourg's example and let information on European banking depositors be exposed to EU tax authorities.
But, Maria Fekter, the Austrian finance minister, promised to "fight like a lion" against the demands, refusing to change her country's laws until Britain ends tax haven and banking secrecy laws in offshore financial centres, such as the Channel Islands.
"Austria is sticking to bank secrecy. We fight tax evasion and money laundering," she said.
"Great Britain has many money laundering centres and tax havens in its immediate legal remit - the Channel Islands Gibraltar, the Cayman Islands, Virgin Islands. These are all hot spots for tax evasion and money laundering", the minister added. Full story...
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