European Union leaders are gathering in Brussels today for a summit to tackle tax evasion and improve Europe's energy market. After sharp divisions over the EU budget there may be more consensus on these issues, seen as vital in restoring Europe's competitiveness. Tax evasion costs EU states 1.3 trillion dollars a year. A European Parliament resolution has called on the EU to halve that figure by 2020, by curbing tax loopholes and havens. The European Commission is also pressing for automatic exchanges of people's earnings data between tax authorities. EU Commission President Jose Manuel Barroso said the EU should aim to introduce such exchanges on 1 January 2015.
News On AIR | May 22, 2013 2:38 PM
$1.3tn lost to tax evasion; EU summit in Brussels on issue