However, Austria is reluctant to disclose information about its citizens
EU urges the Austrian government to revise the law on bank secrecy, according to Algirdas Semeta, European Commissioner for taxation.
EU experts believe that, in view of a difficult financial situation in the region, it is necessary to revise the legislation on bank information exchange, as withdrawal of funds to tax havens and tax evasion cost the EU estimated annual €1 trillion.
The Austrian government maintains that the country is open to dialogue on the disclosure of EU citizen details, leaving out, however, the data on the Austrians.
