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Article: Whiter than white; Tax havens under pressure.
- Article from:
- The Economist (US)
- Article date:
- June 20, 2009
CopyrightCOPYRIGHT 2009 Economist Newspaper Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Britain's offshore financial centres race for respectability
BERMUDA, a British territory in the North Atlantic, proudly announced this month that it had made it on to the OECD's white list of benign tax regimes. That puts it among the countries that have "substantially implemented" internationally agreed tax standards, as monitored by the OECD, a club of industrial nations. Since January 2007 a stampede of offshore tax havens, many of them British one way or another, have rushed to sign enough bilateral tax-information exchange agreements, known as TIEAs, to get on the white list. The arbitrary threshold is 12.
The Channel Islands (Jersey and Guernsey) ...