MEPs to back EU-wide financial transaction tax

Austria and Luxembourg hold out against tougher tax rules

Commissioner frustrated at lack of progress.

Finance ministers fail to reach deal on tax avoidance

But they agree mandate for Commission to negotiate on bank transparency with five non-EU countries.

A share of the wealth

The European Union imposes greater levels of tax on its citizens and businesses than do most other areas of the world, writes Ian Wishart.

British tax havens take steps to end bank secrecy

Overseas territories agree to automatic exchange of information with France, Germany, Italy and Spain.

Clarification required on financial transaction tax

Member states concerned about the effect tax could have on their overall costs of borrowing.