ASSESSMENTS

Tax Havens and the G-20 Summit

Apr 3, 2009 | 21:08 GMT

Summary

The G-20 summit issued a statement at its conclusion declaring the intention to impose sanctions on tax havens. The global financial crisis has burdened public finances, making government officials more eager to prosecute tax evasion and international tax shelters. Since individual states will be responsible for going after those they suspect of hiding funds, the punitive actions taken could be harsh.

The decision to take action against tax havens is one of the significant results of the G-20 summit. ...

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