Austrian banking secrecy

Safe deposit boxes are pictured in a bank in western Austria. Austrian Finance Minister Maria Fekter will fight "like a lion" to defend the country's banking secrecy, promising to veto any steps that endanger the centuries-old tradition. Austria taxes interest income at source and sends the proceeds back to the depositor's home country without revealing any names, a system it defends as being more efficient than exchanging personal information with foreign governments.

( Dominic Ebenbichler/Reuters )

Safe deposit boxes are pictured in a bank in western Austria. Austrian Finance Minister Maria Fekter will fight "like a lion" to defend the country's banking secrecy, promising to veto any steps that endanger the centuries-old tradition. Austria taxes interest income at source and sends the proceeds back to the depositor's home country without revealing any names, a system it defends as being more efficient than exchanging personal information with foreign governments.

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