Fines, sanctions and blacklisting could await tax havens refusing to publish details of their accounts as a result of the G20 communiqué, but no enforcement time-table has been decided.
Richard Murray, an official G20 Voice blogger and founder of Tax Justice Network, suspects progress stemming from the "first steps" taken against tax havens by the G20 will be "long and drawn out and with a few bumps along the way". He said one of the reasons a tax haven listing was not going to be reached in a day was some countries want to base criteria on more than signing up to OECD Tax Information Exchange Agreements (TIEAs) which he describes as "useless." "They have said the list is not black and white - there are several shades of grey as well, which ensure that meaningless prom...
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