Latest tax and investment news
Transparency 'could ease future for tax havens'
Increased transparency could reduce the pressure on offshore financial centres and tax havens this year following the publication of a document from the Organisation for Economic Cooperation and Development (OECD).
In a blog post on QFinance.com, Anthony Harrington said that the OECD has set the bar for transparency at a minimum of 12 information sharing agreements - something a number of financial centres were keen to sign with major economies last year.
"Even jurisdictions that were opposed to exchanging bank information with outside tax authorities have endorsed the OECD's tax transparency standards," said Mr Harrington.
OECD secretary-general Angel Gurria added that the campaign for global tax transparency is in "full flow", with more than 300 information sharing agreements concluded during 2009 and 19 jurisdictions removed from the OECD's black list.
In other international finance news, the UK government recently welcomed calls by Zimbabwean Finance Minister Tendai Biti for the restoration of Zimbabwe’s voting rights at the International Monetary Fund.
Posted by Brian de Selby
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