the avanti group review articles, G20 could step up fight
against tax evasion
WASHINGTON:
The Group of 20 leading economies could step up the battle against tax evasion
using offshore accounts in its meetings on Thursday and Friday, officials said.
The G20
is expected to weigh endorsing a global effort to force banks to automatically
share information with countries seeking to tax their nationals holding secret
offshore accounts — an effort that could deal a blow to tax havens like the
Cayman Islands, Hong Kong, Switzerland and others.
It
remained unclear how far the G20 will go. At least the United States and France
are said to be hoping for a strong endorsement.
But even
continued discussion will confirm how far a once-disdained effort by the United
States alone to collect taxes on US nationals’ offshore accounts has expanded
and gained support among other major economies, especially those facing large
holes in their budgets.
“The
issue is to go as far as possible,” said one European official, speaking on
condition of anonymity.
the
avanti group review articles, G20 could step up fight against tax
evasion
