International group set up to target tax haven abuse

An international task force is being set up to sniff out illicit funds
stashed away in tax havens, but the UK is not joining the group.

The Norwegian government is forming an international group to target what it
believes is the stashing of illicit funds into tax havens by accountants, banks
and lawyers, reports

The Observer

The Treasury told the newspaper it had not been contacted to join the group,
commenting that the UK worked with the OECD on tax evasion issues.

The Norwegian government is also offering to fund research into illicit cash
flow out of developing nations, reports the newspaper.

Further reading:

Observer: International group will track $1trillion of illicit

Related reading

tax dictionary