The 20 largest economic nations in the world are expected to produce a new set of rules for oversight, transparency and conduct for offshore tax havens next week as part of a broader effort to overhaul the regulatory structure of the world economy, White House officials said Saturday.
The new "rules of the road" for Caribbean and other tax havens will be included in a communiqué issued by the Group of 20 nations at a much-anticipated London economic summit on Thursday, said Michael Froman, a deputy White House national-security adviser for international economic affairs.
Saturday, March 28, 2009
G-20 to Target Tax-Haven Nations
With the world in crisis, and a dollar collapse possible at any minute, the G-20 spends time trying to get at the only free capital still left in the world. WSJ has the details:
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"With the world in crisis, and a dollar collapse possible at any minute, the G-20 spends time trying to get at the only free capital still left in the world..."
ReplyDeleteWe have seen this before...
"When Titus found fault with him [[Vespasian]] for contriving a tax upon public conveniences, he held a piece of money from the first payment to his son's nose, asking whether its odour was offensive to him. When Titus said "No," he replied, "Yet it comes from urine."
CW