G20 leaders back automatic information exchange

(CNS Business): The declaration by G20 countriesin Los Cabos this week that they will be leading by example when it comes to automatic exchange of financial information has been welcomed by groups campaigning against tax havens and offshore financial centres. Campaigners say such jurisdictions should not be allowed to pick and choose who they share information with via tax information exchange agreements (TIEAs) with specific countries but should automatically reveal information. With the world’s leading nations backing that position, Global Financial Integrity (GFI) said it was a step in the right direction and would go a long way towards curtailing tax evasion. Read more on CNS Business