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EVENT:
Singapore today became the latest in a flurry of jurisdictions complying with OECD standards on transparency and exchange of information for tax purposes.
SIGNIFICANCE:
Fifteen jurisdictions have come into compliance since April 2009. It is a sign of the determination of the G20 decision to turn against the network of tax havens that flourished in the light-touch regulation era that came to an end with the global financial crisis.
Word Count (approx): 1240
Headings
- Tax havens
- G20
- Market fundamentalism
- Swiss breakthrough
- Shadow banking
- Dependencies
- Small havens
- Crackdown
- Outlook
Primary Keywords: INT, Bermuda, Caribbean, Cayman Islands, Costa Rica, France, International, Malaysia, OECD, Saint Kitts and Nevis, Switzerland, United Kingdom, United States, economy, industry, international relations, banking, derivatives, finance, reform, regulation
Secondary Keywords: Germany, Philippines, Uruguay, corporate, fiscal, policy
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