EU fails to agree on key policy to fight tax evasionMarch 11, 2014 - 17:30 AMT PanARMENIAN.Net - European Union countries again failed Tuesday, March 11, to agree on a key policy to fight tax evasion due to resistance from tiny Luxembourg, the Associated Press reports. EU taxation Commissioner Algirdas Semeta said the failure was "disappointing" because the legislation on an EU-wide automatic exchange of information on interest gains from bank deposits would allow governments to "identify and chase up tax evaders." The decision requires unanimity among the EU's 28 countries. Luxembourg's Finance Minister Pierre Gramegna said his country could not yet vote in favor, asking for the matter to be decided by next week's summit of EU leaders. Luxembourg insisted for years it would only agree once financial hubs that aren't EU members, like Switzerland, also sign up. It frets that EU rules might be more stringent than upcoming international standards. Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Russia clarifying reports on Baku’s alleged arms supply to Ukraine Russia says is carefully working to verify reports about alleged arms supplies from Azerbaijan to Ukraine Russia warns Armenia against “falling into West’s trap” Zakharova maintained, however, that anything that will benefit the people of Armenia can only be welcomed. CSTO: Armenia has not participated in secretariat’s work recently Recently Armenia has not participated in the work of the secretariat of the CSTO, Imangali Tasmagambetov said. Meeting with U.S., EU not against third parties, says Armenia The meeting scheduled for April 5 is dedicated to strengthening of the Armenia-EU-US cooperation, Yerevan added. |