British PM calls for ban on tax havens
Published:Thursday | March 5, 2009 | 1:00 PM
British Prime Minister, Gordon Brown is again calling for financial authorities to outlaw tax havens.
He wants this to happen in order to improve global regulation and restore faith in the financial system.
US Treasury Secretary, Tim Geithner has revealed that the White House has plans to crack down on tax havens.
Some lawmakers claim that offshore centres turn a blind eye to tax evasion estimated to deprive the US government of US$100B in annual revenues.
Caribbean financial centres insist that they have raised their standards to meet international rules.