EU orders five countries to apply new laws on tax evasion

EU

The European Commission told five European Union countries on Thursday they must enforce new EU laws aimed at tackling tax evasion within the next two months or else face court action. The EU’s executive warning to Italy, Poland, Belgium, Greece and Finland’s self-governing Aland Islands comes amid increased public anger about large international companies and wealthy individuals who pay little or no tax. The new laws require states to share information with each other on possible tax evaders and set deadlines for how quickly information must be provided. Countries cannot refuse requests to share information by saying the data is held by banks. Member states should have begun applying the law from the beginning of 2013, the Commission said.

Bamosz Investment Fund NAV Reaches HUF 15.624 tln in March Analysis

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