Treasury to Crack Down on UK’s Offshore Tax Havens
►http://www.globalpolicy.org/social-and-economic-policy/international-trade-and-development-1-57/transnational-corporations/52096-treasury-to-crack-down-on-uks-offshore-tax-havens.html?itemid=id
Jamie Doward
Observer
November 24, 2012
The UK government is planning to force tax havens to reveal the names of account holders, according to this Guardian report. Similar to the US Foreign Account Tax Compliance Act, the new changes would push the UK’s crown dependencies such as Jersey, Guernsey and the Isle of Man and the Cayman Islands to give up what was previously secret information. There is skepticism about the implementation of the plan, but if taken up, the UK’s tax transparency move could act as a stimulus for other governments restricting the billions in tax avoidance.