Draft summit conclusions tailor made for Vienna and Luxembourg

The most recent draft conclusions (dated 17 March) for the European Council of 20-21 March state that the 28 are prepared to meet the demands of Luxembourg and Austria in order to reach an agreement before the end of the month on revision of the savings taxation directive. On the drawing board since 2008, it aims to extend the existing legislation to new instruments and certain shell companies, based on the system of automatic exchange of information between tax administrations.…