Brussels, 25/03/2014 (Agence Europe) - On Tuesday 25 March, the European Banking Federation (EBF) warned of the dangers surrounding the revised savings tax directive as adopted on Monday by the member states, which extends the scope of application of automatic exchange of bank information (AEI) under the 2003 directive (2003/48/EC).
The EBF says: “The current EU plans will lead to disruption and unnecessary costs for banks because they are not compatible with the multilateral regime...