IFCs worried by OECD push on automatic exchange

(CNS Business): The sudden push by the G20, currently led by France, to crack down on tax havens and in particular the signing by 13 G20 nations to a convention seeking automatic exchange of tax information has worried the offshore industry. Walkers Chairman Grant Stein said there are concerns that the OECD has been conducting considerable work behind the scenes to push G20 member countries to sign a Multilateral Convention on Mutual Administrative Assistance in Tax Matters, even though the matter does not appear to have been raised with the Global Forum, of which the Cayman Islands is a member and which partially funds the OECD’s activities. Go to article on CNS Business