From the Economic Times of India: India will pitch for deeper tax information exchange agreements at the G-20 to make such pacts more effective in facilitating the flow of crucial data on tax evasion. New Delhi is expected to present a detailed paper on the issue at the forthcoming Seoul meeting, urging that domestic laws
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I note Bloomberg covered the conference of the British Swiss Camber of Commerce conference (which must have been a humdinger of a do). Somehow it’s only just come to my attention, but of particular note was this report: The OECD has no agenda to push for an automatic exchange of information, Pascal Saint-Amans, head of
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Progress on Exchange of Information in the Caribbean – News – Bahamas Financial Services Board. The Bahamas want to celebrate: The Organisation for Economic Cooperation & Development announced today that Anguilla, St. Kitts and Nevis and St. Vincent and the Grenadines have become the 23rd, 24th and 25th jurisdictions to move into the category of
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The new UK penalties for offshore tax evasion give a massive boost to automatic information exchange, a Tax Justice Network demand. As the budget note says: The mechanics of the penalty frameworks will remain the same, but the absolute level of the percentage used to determine the tax-geared penalty will be determined by the jurisdiction
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Tax-Haven Crackdown ‚ÄòBig Success’ as OECD Begins Review Process – Bloomberg.com. As Bloomberg notes: Cracking down on tax havens has been “one of the big success stories” of the Group of 20’s efforts in the financial crisis, the OECD said, as the Group shifts from naming-and-shaming to ensuring compliance with tax standards. The Paris-based Organization
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Swiss private banks want clearer legislation over bank secrecy. – swissinfo. Switzerland has got itself off the so called OECD grey list of tax haven states by committing to more than 12 new or revised Tax Information Exchange Agreements and Double Tax Agreements including the latest for of the OECD standard information exchange clause which
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Gordon Brown said at the G20: We have agreed that there will be an end to tax havens that do not transfer information upon request. The banking secrecy of the past must come to an end. It could have been the quote of the year. But a few hours later we learned this was based
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I have been looking at the Tax Information Exchange Agreements (TIEAs) that have, in the main, been signed as a result of g20 pressure arising in April this year. There were 180 of these by 10 November, the cut off for my work. I think there’s one more now. I have plotted them all. In
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A protocol signed Wednesday by the United States and Switzerland amending the U.S.-Swiss Tax Treaty falls short of ensuring effective information-exchange between the U.S. and Swiss financial institutions, said Global Financial Integrity (GFI) Thursday. “The protocol signed Wednesday is an improvement on the existing US-Swiss Income Tax Treaty,” said GFI director Raymond Baker. “It establishes
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