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In last week’s G8 summit, the leaders of the 8 most powerful countries in the world devoted the first day to finding a solution to the Syrian conflict. However, the surprising topic during the second day was how world governments can combat tax evasion and money laundering.

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LONDON – The Philippines was among four nations blacklisted as uncooperative tax havens yesterday after Group of 20 leaders declared the age of banking secrecy was over and said they would no longer tolerate shady havens draining away badly needed tax revenue.
At the request of the G20 summit of rich and developing nations, the Organization for Economic Cooperation and Development (OECD) named the Philippines, Uruguay, Costa Rica and the Malaysian territory of Labuan as the worst offenders, saying they had refused to adopt new rules on financial openness.
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HAVENS

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In last week’s G8 summit, the leaders of the 8 most powerful countries in the world devoted the first day to finding a solution to the Syrian conflict. However, the surprising topic during the second day was how world governments can combat tax evasion and money laundering.

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LONDON – The Philippines was among four nations blacklisted as uncooperative tax havens yesterday after Group of 20 leaders declared the age of banking secrecy was over and said they would no longer tolerate shady havens draining away badly needed tax revenue.
At the request of the G20 summit of rich and developing nations, the Organization for Economic Cooperation and Development (OECD) named the Philippines, Uruguay, Costa Rica and the Malaysian territory of Labuan as the worst offenders, saying they had refused to adopt new rules on financial openness.
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abtest

The evils of tax evasion and tax havens

By BREAKTHROUGH | By Elfren S. Cruz | June 23, 2013 - 12:00am

In last week’s G8 summit, the leaders of the 8 most powerful countries in the world devoted the first day to finding a solution to the Syrian conflict. However, the surprising topic during the second day was...

Opinion

G20 blacklists RP, 3 other tax havens

April 4, 2009 - 12:00am

LONDON – The Philippines was among four nations blacklisted as uncooperative tax havens yesterday after Group of 20 leaders declared the age of banking secrecy was over and said they would no longer tolerate...

Headlines