EU finance ministers seek ways to reduce tax avoidance
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European Union finance ministers will later seek ways to cut down on tax evasion — action British Chancellor George Osborne says is particularly important in current circumstances.
On his way into a meeting of the 27 ministers in Brussels Tuesday, Osborne says it is "right that everyone makes their fair contribution" given the current economic backdrop.
Part of the effort will involve a long-stuck savings directive, which seeks an automatic exchange of information between different countries so that interest income on various types of savings accounts can be properly taxed
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The ministers will also continue their effort to construct a banking union. And they will try to reach a budget agreement for the current year.