FINANCIAL TIMES: Luxembourg is ready to share currently confidential information about multinationals’ bank accounts as part of efforts to shed the Grand Duchy’s image as a leading tax haven.
Under pressure amid a renewed global crackdown on tax evasion and avoidance, Luc Frieden, finance minister, said Luxembourg was willing to expand the number of accounts covered by new information-sharing agreements with the US and the EU to include global companies. The accords, agreed this month, currently only cover individual taxpayers.
The latest move demonstrates Luxembourg’s determination to shed its reputation as the EU’s capital for international tax evaders… (more)
EDITOR: This is great news. As one bastion of stored secret wealth falls after another, tax dodgers will fear using any of them.
