Banking / Investment in Austria
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AUSTRIA, 2013/06/22
Tax evasion has risen to prominence on the EU schedule following the money laundering discussions surrounding Cyprus\' bailout and the recent revelations concerning Europeans hiding their wealth in complex offshore schemes.
An EU summit will be devoted to the issue in May. According to a senior EU official, the summit is aimed at \"convincing\" Austria to drop its veto on an EU bill obliging banks and governments to exchange data on their citizens\' bank accounts abroad.
Next a weekend of talks in Dublin part finance ministers, Austria is the last country still opposing the scheme. Luxembourg, its long-time ally, recently caved in to pressure and pledged to join the automatic data exchange from 2015.
