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Data-Sharing Deadline Set

FINANCIAL PRIVACY—EU

May 24, 2013

“EU leaders have agreed that the automatic sharing of individuals' bank account data, a key measure to prevent tax evasion, should become law across all member states by the end of the year,” AAP reports. The report references EU President Herman Van Rompuy’s comments at a press conference calling for “member states to complete adoption of regulation covering private savings aimed at ending bank secrecy.” The report follows comments by French President Francois Hollande noting EU countries will start working on an automatic exchange of tax information.
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