Hollande Wants Automatic Tax Data Sharing for EU

French President Francois Hollande said on Wednesday that European countries would start working in June on an automatic exchange of tax information, in a bid to recoup some of the billions of euros lost in tax evasion each year.

Hollande told a news conference following a four-hour summit of European leaders that the bloc also intended to clamp down on international companies who use legal loopholes to avoid taxes.

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