EU fails to agree on key policy to fight tax evasionMarch 11, 2014 - 17:30 AMT PanARMENIAN.Net - European Union countries again failed Tuesday, March 11, to agree on a key policy to fight tax evasion due to resistance from tiny Luxembourg, the Associated Press reports. EU taxation Commissioner Algirdas Semeta said the failure was "disappointing" because the legislation on an EU-wide automatic exchange of information on interest gains from bank deposits would allow governments to "identify and chase up tax evaders." The decision requires unanimity among the EU's 28 countries. Luxembourg's Finance Minister Pierre Gramegna said his country could not yet vote in favor, asking for the matter to be decided by next week's summit of EU leaders. Luxembourg insisted for years it would only agree once financial hubs that aren't EU members, like Switzerland, also sign up. It frets that EU rules might be more stringent than upcoming international standards. Related links: 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 | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |