Luxembourg to ease secrecy surrounding its banksApril 10, 2013 - 15:08 AMT PanARMENIAN.Net - Luxembourg has said it will ease the secrecy surrounding its banks. According to BBC News, it said it would implement rules on the automatic exchange of bank account information with its European Union partners from 2015. Calls for this have been increasing, as governments seek to raise more taxes to support their finances. Prime Minister Jean-Claude Juncker said Luxembourg would introduce the reforms in two years. "We can introduce [the rules] without any danger from January 2015," he said. Luxembourg is a country of only 500,000 people, but its banks and other financial institutions have assets worth more than 20 times the country's economic output. Luxembourg's foreign minister, Luc Frieden, said at the weekend that he wanted to "strengthen cooperation with foreign tax authorities". Last week, Germany signed a tax evasion treaty with Switzerland - another European banking centre known for its secrecy. The treaty is designed to give the German tax authorities the ability to claw back taxes from their citizens who may be hiding money in Swiss banks. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Pashinyan’s spokesperson denies intention to visit Baku for COP29 Pashinyan’s agenda doesn’t include a trip to Baku for the COP29 conference, his press secretary Nazeli Baghdasaryan has said. Russia accuses West of preparing invasion of CSTO countries NATO is preparing an invasion of the CSTO countries, the number of provocations in the air is growing, Sergei Shoigu has said. Lithuania sending €100,000 to help Armenia fight floods consequences Armenian Prime Minister Nikol Pashinyan took to social media to thank his Lithuanian counterpart for the contribution. Armenia: Rescue workers restore pedestrian bridge for flood-hit community Rescue workers on Wednesday, June 5 restored a pedestrian bridge in the town of Alaverdi in Armenia’s north. |