AUSTRIA has announced its intention to enter into talks with
the US and with the Organization for Economic Cooperation and Development
(OECD), aimed at combating tax fraud and tax evasion.
Austrian Chancellor Faymann revealed that the Austrian Government has
adopted two resolutions, designed to strengthen the fight against international
tax evasion. Austria intends to sign an agreement with the US tax authorities
for implementing the Foreign Account Tax Compliance Act (FATCA), and to sign the
OECD Convention on mutual assistance in tax matters, the Chancellor emphasized.
Underlining the fact that the Austrian Government is united in its stance and
plans to negotiate together to pursue a clear, constructive path in the fight
against tax evasion. Austria is determined to ascertain that both tax havens
like the Channel Islands and hidden ownership structures such as trusts are
transparent the Chancellor can be made clear.
Austria firmly supports negotiations between the European Commission and
third states, it is playing a pivotal, constructive, and clear role in combating
tax flight and is committed to participate constructively in negotiations
between the European Union (EU) and third states on an automatic exchange of
banking information at the end of April.
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