Call for EU to join forces on tax

EU countries must co-operate if they want to stop tax revenues disappearing to tax havens, the European Commission has warned.

Commissioner for taxation, Laszlo Kovacs, presented new measures to improve transparency and the exchange of information on taxes between EU member states.

He also announced that the union will be looking to renegotiate its anti-fraud agreements with five countries, including Switzerland, after they agreed recently to sign up to new standards drawn up by the OECD.