The farce of the OECD tax haven standard

Posted on

Belgium, like Luxembourg, Singapore, San Marino, the Seychelles, the Isle of Man and Monaco, is a tax haven.

The OECD has now declared Belgium to be "clean" because it has signed some of its pitifully weak exchange of information agreements with 12 countries, getting it over the hurdle required for the country to be declared "clean."

And who, pray, has Belgium signed its latest exchange of information agreements with?

Step forward Singapore, San Marino, the Seychelles, the Isle of Man and Monaco.

It couldn't be cosier, could it?

It’s time the G20 upped the anti: 12 was OK in April. Now it’s been proven 12 is easy the next step is 36, at least. Will they have the courage to do that at their September meeting? I hope so. But I’m not holding my breath.

Hat tip to TJN