Treuhand accounts obviate new OECD tax evasion rules
“Bank Secrecy Bites the Dust in Europe” – Newsweek. “Switzerland, Luxembourg, Austria Loosen Secrecy Rules” – Bloomberg. “Tax Havens Give in to EU Pressure” – Spiegel ONLINE. Has banking secrecy finally come to an end? This is what newspapers seem to be saying. But is it true, or should these headlines be punctuated with a question mark?
The Organization for Economic Cooperation and Development (OECD) wants tax havens to participate in new international tax agreements aimed at creating more transparency.