Lifting the lid on tax havens and bank secrecy
How deep will the G-20 crackdown on banking secrecy offshore tax havens go?
"The era of banking secrecy is over," said the G-20 communiqué. But of all the G-20 measures, abolishing tax havens seems one of the most peripheral in relation to the current crisis. A flurry of high-profile, big-money frauds and rising financial crime rates as markets fall have been catalysts for regulatory action and heightened interest in the standards set by the Organisation for Economic Co-operation and Development (OECD).
Meaningful efforts at unravelling banking secrecy and claiming tax
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