This was published by HMRC yesterday:
Can anyone spot the USA? No, me neither.
Or the British Virgin Islands, who we could impose this on? No, not there.
And what about Panama?
Or some larger economies, like Canada, Australia and New Zealand? They seem to have forgotten to join this club.
Or to put it another way, this one has a long way to go.
Not least because the UK data that will be exchanged is utter garbage based wholly on voluntary declaration which includes the option of saying the disclosure scheme does not apply to a company. As any crook will know.
We have a long way to go.
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After all of the discussions the G20 has had on tax, there are only six member countries on the list (seven if you say the number of EU countries means the EU is listed). Not leading by example.
Any country where tax evasion has become so entrenched as to become embedded into policy decisions and its international relations is well on the way down the slide to institutional corruption and a loss of faith in both its government and the rule of law.
The USA is totally committed to information exchange. The problem is that you don’t understand what information exchange is. Information exchange is the sharing of information by other countries with the USA (i.e. FATCA). It is preposterous to expect the USA to share anything with other countries.
I accept the irony
….. especially from Delaware, Indiana, Wyoming or Arizona.
Not sure about Puerto Rico s locus as a state ( apart from it keeps getting bailed out).
It probably gets treated as the Channel Islands do here……….. look the other way and don t ask too many questiobs.
Sorry Luxembourg is in but what of Switzerland, Liechtenstein Monaco , Andorra ,
San Marino etc.
No? Oh well….