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G20 declares door shut on tax havens | World news | guardian.co.uk

The most dramatic crackdown on tax havens was unveiled by G20 leaders at their summit today, paving the way for the naming and shaming of countries that fail to comply with internationally agreed standards.

Gordon Brown hailed the agreement as he issued a blunt warning to individuals and corporations that invest in renegade tax havens that their money will be unsafe.

"People will increasingly see that it is unsafe to be in a country which still wants to declare itself as a tax haven," the prime minister said.

"There will be no guarantee about the safety of funds there. If tax information is exchanged on request, as these countries have agreed to, then the benefits from being in these countries will diminish every day."

by In Wales (inwales aaat eurotrib.com) on Thu Apr 2nd, 2009 at 03:38:42 PM EST
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