G20 nations to take counter measures against tax havens from March 2010
London:In order to prevent money laundering and terror financing, G20 countries have decided to take counter measures against non-cooperative tax heavens from March 2010. Following up on
the decisions taken at the summit in April, the meeting of G20 finance ministers,
including India , finalized the steps that could enable governments to extract
information from such tax havens. A resolution adopted at the end of the meeting
decided that the nations would “deliver an effective programme of peer review,
capacity building, and counter measures to tackle non cooperative jurisdiction
that failed to make regulatory standards, anti-money laundering/ combating financing
of terrorism." British Chancellor Alistair Darling told reporters that the measures
would also include information exchange standard, stand in ready-to-use counter
measures against tax havens from March 2010.
