Tax offences = money laundering.
As headlines go the above, from the Straits Times in Singapore is pretty good. And spot on.
As it reports:
THE OECD is planning to list tax offences as a form of money laundering, a move that could hit Switzerland hard, Swiss newspaper SonntagsZeitung reported on Sunday.
Without citing its sources, the newspaper said that if tax offences were reclassified in money laundering, lawyers, tax advisors, accountants and bankers who are implicated in such offences could get up to three years in jail.
About time too. It's another step the Tax Justice Network have been calling for.
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