OECD

Switzerland has signed a revised double taxation agreement (DTA) with Luxembourg edging Switzerland closer to "White List" status.

As a result of the conclusions of the G20 summit, held last April in London, Madeira's International Business Centre has consolidated its position as a transparent jurisdiction, fully integrated in the new architecture of the world financial order.

Luxembourg has been promoted to the Organisation for Economic Cooperation and Development's (OECD)"White List" of tax havens which have met the international standard on exchange of information.

The OECD is urging policymakers to enforce stricter regulations and stronger governance of private pension funds, the organisation said today.

Financial services firms must make sure their customers understand what they are letting themselves in for when they sign up for mortgages, consumer loans and other products, according to the OECD.

Criminals are increasingly using soccer for money laundering and tax evasion, helped by the globalisation of the sport and financial needs of clubs, an anti-corruption body says.

The Organisation for Economic Cooperation and Development (OECD) says the world economy is near the bottom of the fiercest recession in post-war history.

Offshore jurisdictions flouting their pledges to comply with international standards have been threatened with sanctions at a Berlin meeting of International finance ministers.

A plethora of deals designed to help pursue evaders hiding money offshore are set to be signed by finance ministers in Berlin tomorrow.

A plethora of deals designed to help pursue evaders hiding money offshore are set to be signed by finance ministers in Berlin tomorrow.