Are the World Bank and international donors involved in development aware of the problem?
There’s two ways of looking at it. One could say that the coordinated onslaught on tax havens by the 20 richest economies in the world was indeed unprecedented. Momentum was built by scandals affecting Switzerland and Lichtenstein (where many European and American taxpayers were accused of hiding personal wealth), as well as public deficits ballooning with the global economic crisis. Suddenly, tax evasion became politically unbearable for many governments, which vowed to terminate banks’ secrecy. However, in order to be taken off the official list of tax havens, many such jurisdictions signed tax information exchanges treaties with other tax havens. In theory, signing cooperation agreements with 12 countries ensures a country is not labelled a tax haven. But in practice, I have a hard time imagining Monaco’s fiscal services requesting information from, say, Lichtenstein in order to establish whether a person should be paying more tax. One way of limiting corporate tax evasion would be
Related Questions
- For what visa should a participant in a course given by the Economic Development Institute of the International Bank for Reconstruction and Development (World Bank) apply?
- How is IDRC different from other government agencies and departments involved in international development?
- How is IDRC different from other agencies and departments involved in international development?
