On March 24th 2014, the EU Tax Commissioner Algirdas Šemeta announced that the EU member states have formally adopted the revised EU savings tax directive. The revised directive, six years in the making, was developed to counter tax evasion by improving tax transparency within the EU and close loopholes in the original directive on savings taxation. It will be integrated into the EU's legislative structure for implementing the new global OECD standard on automatic exchange of information.
The …