Britian, Belize sign deal to crack down on tax avoidance

Britain has formally signed a deal with Belize designed to crack down on tax avoidance.



The financial secretary to the treasury, Stephen Timms and Belize High Commissioner Kamela Palma sealed the tax information exchange agreement yesterday.



The deputy chairman of the opposition Conservative Party, Lord Ashcroft, has been under fire over his close links to the former colony.



The British government says tougher sanctions are to be imposed on people who shelter their money in offshore tax havens.