Forbes

Last month the Organization for Economic Cooperation and Development in Paris removed the last holdouts Andorra, Lichtenstein and Monaco from its blacklist of “uncooperative” tax havens. With every OECD-targeted tax haven across the globe now committed to tax “transparency and exchange of information,” according to the organization’s Committee on Fiscal Affairs, the world seems to have entered a new era.

April’s G-20 meeting in London does indeed suggest there is growing political will to penalize foot-dragging tax havens. A recent status report presented to the American Bar Association Tax Section predicted “increasing convergence and prosecution” of “tax evasion and other white-collar crime” and “more pressure on a macro level on offshore centers and large international banks.”

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This entry was posted on Tuesday, June 23rd, 2009 at 4:33 pm and is filed under Issues in the News, Media, News.