EU Lawmakers Reach Tax Evasion Accord

Law360, New York (March 21, 2014, 1:34 PM EDT) -- After six years of negotiations, European Union lawmakers on Thursday agreed to adopt a tax evasion policy meant to close loopholes within the bloc's member nations and combat bank secrecy.

EU leaders had hoped to reach an agreement during a March 11 meeting and persuade two holdouts — Austria and Luxembourg — to approve the EU Savings Tax Directive. Even though those talks fell apart, EU leaders said they expected the directive to be approved by the end of the month, and that prediction rang true....
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