Tax havens face sanctions

| 02/03/2009

(The Guardian): Offshore havens that refuse to hand over information on tax dodgers face an unprecedented campaign of economic sanctions by the world’s most powerful countries, which may be agreed at the G20 summit in London next month. The campaign could see Britain targeting some of its own overseas territories including the Cayman Islands and the British Virgin Islands, where British banks and corporations use scores of subsidiaries to avoid tax. The blacklisting threat comes as opposition politicians in Britain call for a review of the tax haven dealings by banks being bailed out by the British taxpayer.

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