As world leaders increased the pressure on tax havens at the G20 summit in Pittsburgh, the Organisation for Economic Cooperation and Development said Switzerland has been dropped from its list of uncooperative tax havens.
Luxembourg has been removed from the OECD's 'grey list' of countries that have yet to sign international agreements guaranteeing financial transparency.
The OECD has published the latest statistics on global economic recovery forecast, predicting increased growth but also increased unemployment. Our panel of economists discuss whether these figures truly reflect the current economic situation.
The OECD has published the latest statistics on global economic recovery forecast, predicting increased growth but also increased unemployment. Our panel of economists discuss whether these figures truly reflect the current economic situation.
The advanced economies will begin the long haul toward a weak recovery by the end of the year, the OECD says. Its review forecasts growth of 0.7 percent next year, slightly lower than the 0.8 percent expansion seen in 2008.
Luxembourg and Liechtenstein announced plans on Friday to conclude a treaty in line with the Organisation for Economic Cooperation and Development's rules on tax reporting. Both powers are under pressure to revise their laws on banking secrecy.
Angry at being placed on the OECD's 'grey list' of tax havens drawn up at the G20 summit, Switzerland is reportedly planning further retaliatory measures, such as delaying payment of its membership fee.
Following their commitment to share information, the four countries that were on the OECD blacklist of tax havens have now been removed from the list, the organisation's secretary general, Angel Gurria, announced on Tuesday.
