The FT notes this morning that:
The Cayman Islands, Luxembourg and Jersey are among 42 countries that have agreed to pioneer a tax transparency regime in another milestone in the global crackdown on evasion.
The Paris-based OECD described the plan for automatic exchange of information on bank accounts holding more than $250,000 as a “real game changer” that would deter evasion and help tax authorities identify citizens hiding money offshore.
First they ignore you.
Then they ridicule you.
Then they get really angry.
And suddenly what you had to say was a great idea all along.