SECTION 69

Accounts, Taxation and Data processing 1. Member States shall cooperate in standardizing and harmonizing their accounting procedures with the two aims of: a) standardizing methods of recording accounts data, evaluating assets and liabilities and presenting results in order that they may be comparable and that accounts may be consolidated at both national and sub-regional levels; b) improving methods of management and control of the performances of undertakings, administrative units and State bodies. 2. Member States shall harmonize existing and future accounting laws and plans and promote every effort and every instrument likely to help achieve the aims of paragraph 1 of this article. 3. Member States shall, within four years from the date of entry into force of this Treaty, harmonize their tax laws, in particular with regard to the rules of assessment and the rates applicable to indirect taxes not levied by the customs administration in order to encourage the establishment of undertakings in the Community. 4. Member States shall make every effort to integrate and interconnect their data processing.