G-20 nations decide to deal with tax havens

Posted By: Staff
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London, Sep 6: Finance Ministers of G-20 countries, including India, decided take counter measures against tax havens.

The meeting decided on steps that could enable governments get information from such tax havens, particularly the non-cooperative ones, to prevent money laundering and terror financing from March 2010.

Sources said that at the end of the meeting they decided that the nations would "deliver an effective programme of peer review, capacity building, and counter measures to tackle non cooperative jurisdiction that failed to make regulatory standards, anti-money laundering/combating financing of terrorism."

The measures would also include information exchange standard, stand in ready-to-use counter measures against tax havens from March 2010, British Chancellor Alistair Darling told reporters at the end of the meeting.

OneIndia News

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