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UN urged to launch global effort to end offshore tax evasion
by David Pegg
The Guardian Translate This Article
30 January 2018
On 30 January 2018 The Guardian reported:
The United Nations has been urged by the Tax Justice Network to coordinate a global effort to end offshore tax evasion and corruption, amid warnings that the UK is continuing to insulate its overseas territories from financial transparency. Commenting on the launch of the TJN's Financial Secrecy Index 2018, which ranks countries on the size and secretiveness of their offshore sectors, its chief executive, Alex Cobham, said big financial centres had proven unwilling to reform voluntarily. 'The 2018 release confirms the long-term picture that the richest and most powerful countries have continued to pose the greatest global risks -- with Switzerland and the US established as the key facilitators of illicit financial flows,' he said. 'If we are to end tax evasion, corruption, fraud, and money laundering, the world's major financial centres need to clean up their act.' ... Switzerland, the US, and the Cayman Islands are the biggest contributors to global financial secrecy according to the survey, which is published every two or three years.
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