independent

Thursday 17 April 2014

G8: British territories sign up to tax transparency deal

BRITAIN clinched a deal with its major offshore tax havens today.

The move means that 10 British overseas territories and crown dependencies sign up to international protocols on information sharing.

The self-governing regions, some of which are major tax havens, also pledged to produce plans on how to provide more information on the ownership of shell companies that are often used to hide wealth and profits.

"It is important we are getting our house in order," said British Prime Minister David Cameron.

"It is a very positive step forward and it means that Britain's voice in the G8 and the campaigning on this issue around the world for proper taxes, proper companies and proper laws ... will be stronger."

Those included in the agreement were Bermuda, British Virgin Islands, the Cayman Islands, Gibraltar, Anguilla, Montserrat, Turks and Caicos Islands, Jersey, Guernsey and the Isle of Man.

Reuters

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