RegulationCorporate GovernanceFrance and Britain to sanction tax havens

France and Britain to sanction tax havens

Leaders pledge to stamp out tax haven abuse

The leaders of Britain and France have issued a joint warning that tax havens
will face sanctions from March 2010.

At a Franco-British Summit both prime minister Gordon Brown and president
Nicolas Sarkozy said countries acting as tax havens to evaders would face
sanctions.

‘The writing is on the wall for tax havens wherever they may be,’ said Brown.
‘Tax transparency, full exchange of tax information and reducing tax avoidance
are crucial for the health of the global economy.’

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Associated Press’ story

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