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Evasion, Padoan: Ecofin's response is on its way

The Ecofin Council on 9 December will adopt the directive on administrative cooperation, which incorporates a standard for the exchange of information into EU legislation.

Evasion, Padoan: Ecofin's response is on its way

"To effectively combat tax evasion on an international scale, unilateral measures are not enough: we must put in place globally coordinated responses to combat fraud and the illegal transfer of capital abroad". This was stated by the Minister of Economy, Pier Carlo Padoan, on the occasion of the inauguration of the academic year of the Tax Police School of the Guardia di Finanza.

In this regard, the Ecofin Council on 9 December will adopt the new directive on administrative cooperation, which incorporates a standard for the automatic exchange of information into European legislation. To make international commitments operational, "we must now finalize national legislation with measures already in consultation with insiders in the financial sector", continued Padoan.

The minister recalled that the Stability law under discussion in Parliament provides for measures to combat tax evasion which will make it possible to recover approximately 3,5 billion additional compared to 2014 and that from next March electronic invoicing "will be extended to all public administrations effective from March 2015”.

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