European Leaders Take Steps in Cracking Down on Tax Fraud

The European Union has announced a series of measures to crack down on tax avoidance and fraud, including the automatic exchange of bank information to catch cheats. 

European Union President Herman Van Rompuy hailed as “unprecedented” a series of measures against tax evasion agreed to Wednesday by the bloc’s 27 leaders during a brief summit in Brussels. Among them: exchanging banking information to catch tax cheats, pushing financial havens like Monaco and Lichtenstein to …

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