EU leaders in drive against tax evasion at Brussels summit - by Laurence Peter

EU leaders say they are committed to tackling tax evasion and will push for global action to curb banking secrecy.

The president of the European Council, Herman Van Rompuy, said there was a "strong political will" in Europe to make tax systems fairer.

He said the EU would draft tougher rules this year on banking transparency. He was speaking after summit talks in Brussels.  A key goal is to prevent multinational firms exploiting legal loopholes.

Tax evasion and avoidance cost EU states 1tn euros ($1.3tn; £0.85tn) a year - more than was spent on healthcare in 2008.

The EU is now promising action against "aggressive tax planning" - that is, the complex yet legal accounting tricks used by some companies to minimise their tax payments.

EU leaders also want global standards on exchanging bank account data. The issue will be high on the agenda of a summit of the G8 industrialised nations in Northern Ireland next month.

Read more: BBC News - EU leaders in drive against tax evasion at Brussels summit