No agreement on taxes in EU

The decision was blocked thanks to resistance from Luxembourg, which requires this decision to be valid for non-Member States as well.

BRUSSELS, March 11 2014 (FoNet) – Member States did not manage to come to an agreement on tax evasion policy, thanks to resistance from Luxembourg.

EU Taxation Commissioner Algidras Semeta was disappointed because the law on EU-wide automatic bank data exchange wasn’t passed, the law that could allow Member States to “identify and prosecute tax evaders”.

Luxembourg Finance Minister Pierre Gramegna said that he could not vote in favor of the law and pushed the decision to a summit of EU State anfd Government leader next week.

Luxembourg wants this law to be passed in non-Member States as well, such as Switzerland, AP reported.