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Tax Havens Relax Bank Secrecy Ahead of G-20 Summit
By Brian Monroe
printFive bank secrecy jurisdictions have acquiesced since Thursday to international calls for them to loosen privacy rules that allow tax evaders to hide their assets from governments, according to tax consultants and media reports. The moves-by Switzerland, Lichtenstein, Luxembourg, Andorra and Austria-precede an international G-20 summit scheduled for April 3 in which tax evasion is expected to be a high priority. In the past two days, the five also announced a willingness to negotiate tax information sharing agreements with other nations. That the jurisdictions, touted as among the most tight-lipped of financial centers, are responding to international calls for change...
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