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EU finance ministers agree to a plan to share more information on secret bank accounts with each other and non-EU countries, in a bid to combat tax evasion. However, the deal reached in Brussels has one significant loophole it will only take effect if other offshore tax havens, such as Switzerland and the Channel Islands, agree to share information too. This stipulation is included to satisfy EU countries with strong bank secrecy laws, such as Luxembourg.
Monday, 27 November, 2000