Offshore wealth: loopholes found in EU anti-tax evasion rules
(WorldNews Europe)

European rules designed to make it harder for wealthy individuals and companies to hide their cash offshore have loopholes that mean foreign accounts can be kept secret from tax collectors, a report has warned. Countries in the EU have exchanged financial information about accounts held by overseas residents since the introduction of the `common reporting standard` in 2017, designed to reduce tax evasion. Information on offshore holdings is sent to the country where the account...