Luxembourg agrees to abandon bank secrecy

After years of being pilloried as a country that aides and abets tax evaders, Luxembourg agreed on 14 October 2014 to end its secrecy on bank account holders in the country.

At a meeting of EU finance ministers in Luxembourg, the Grand Duchy's finance minister, Pierre Gramegna, said his country would sign up to an international standard aimed at fighting tax evasion.

ESO: Background information: 'Bank secrecy to die' after Austria and Luxembourg back EU law http://www.europeansources.info/record/bank-secrecy-to-die-after-austria-and-luxembourg-back-eu-law/

---