Wednesday, May 22, 2013

EU tax: Barroso urges full automatic exchange of data

The head of the European Commission has told the European Parliament he wants EU-wide exchange of income data as part of the fight against tax evasion.

Jose Manuel Barroso said he would urge Wednesday's summit of EU leaders to support automatic exchange of people's earnings data between tax authorities.

Tax evasion costs EU states 1tn euros ($1.3tn; £0.85tn) a year, more than was spent on healthcare in 2008.

MEPs are expected to call for a Europe-wide blacklist of tax havens.