Thursday, January 17, 2008

The development of infrastructure is another important source of expenditure

The number of tax havens has tripled over the last three decades
Offshore tax evasion increases the burden on honest taxpayers and undermines the fairness and the integrity of tax systems, says Mr Jacques Sasseville who heads the Tax Treaty Unit, Centre for Tax Policy and Administration, at the OECD (Organisation for Economic Co-operation and Development). Such evasion constrains the freedom of governments to design tax systems that reflect their own values, he rues.
“It was in this context that OECD member-countries launched two initiatives,” he recounts, in the course of a recent e-mail interaction with Business Line. The first was an initiative on tax havens launched in 1996; and the second was the work that led in 2000 to a new international standard on access to bank information for tax authorities.

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