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 Bastards: Luxembourg Shows Readiness To Ease Bank Secrecy Norms

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Bastards: Luxembourg Shows Readiness To Ease Bank Secrecy Norms Vide
PostSubject: Bastards: Luxembourg Shows Readiness To Ease Bank Secrecy Norms    Bastards: Luxembourg Shows Readiness To Ease Bank Secrecy Norms Icon_minitimeMon Apr 08, 2013 4:22 am
Luxembourg Finance Minister Luc Frieden has said that his country will no longer reject calls for exchanging bank depositor information with other European countries, in a boost to Eurozone's efforts to reduce tax evasion.

In an interview to Frankfurt er Allgemeine Sonntagszeitung, which was published on Sunday, Frieden said Luxembourg is prepared to ease its banking secrecy rules and will work more closely with foreign tax authorities.

"There was an international trend towards automatically exchanging depositor information. We no longer strictly reject this," he told the German newspaper. "Luxembourg does not rely on customers who want to save tax," the minister added.

Luxembourg's banks are known for their highly secretive nature. Many European countries, including Germany, has expressed concern that banks in Luxembourg have been used as a tax haven by foreign customers.

http://www.rttnews.com/2089847/luxembourg-shows-readiness-to-ease-bank-secrecy-norms.aspx?type=alleco&utm_source=google&utm_campaign=sitemap
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Bastards: Luxembourg Shows Readiness To Ease Bank Secrecy Norms

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