EU Commissioner Šemeta took stock of the EU taxation situation in a speech delivered before the European Parliament's committee on economic and monetary affairs.
Šemeta: "You are no doubt aware that once again the ECOFIN failed to reach agreement on the Savings Directive. I have asked the Lithuanian Presidency to put this point on the agenda again in December. A commitment was taken at the Summit in May to agree this file before the end of the year – and it is a commitment that must be honoured. As I told EU finance ministers last week, the world is moving on automatic information exchange and we cannot be left behind. On this note, I should inform you that negotiations with Monaco, Andorra, Lichtenstein and San Marino have already begun and are progressing well. And we will start with Switzerland as soon as they have their own mandate in the coming weeks. I have personally invested in these talks from the moment we were given the mandate to negotiate, and I can assure you that I will continue to do so to get the best result."