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03 Apr 2009
Luxembourg prime minister Jean-Claude Juncker has said US president Barack Obama needs to concern himself with tax issues in the US before instructing the financial centres of Europe.
Juncker made the assertion in a speech to the European Parliament and implied it was hypocritical of Obama to criticise banking secrecy laws in places such as Luxembourg, Switzerland and Austria, according to tax-news.com
He said if these jurisdictions are to be blacklisted for their privacy laws, then the US must be subject to the same rules.
'The G20 has no credibility as an undertaking if Delaware, Wyoming or Nevada or far-flung islands from the United States are not on the blacklist,' he said.
Further Reading:
G20
summit agrees tax haven crackdown
HMRC
plans separate Liechtenstein amnesty
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