European Union

Hollande Wants Automatic Tax Data Sharing for EU

It's paw through the sofa cushions time

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French President Francois Hollande said on Wednesday that European countries would start working in June on an automatic exchange of tax information, in a bid to recoup some of the billions of euros lost in tax evasion each year.

Hollande told a news conference following a four-hour summit of European leaders that the bloc also intended to clamp down on international companies who use legal loopholes to avoid taxes.