We need the automatic exchange of tax information worldwide, he said.
Gordon Brown
London: Former British Prime Minister Gordon Brown on Wednesday called on Europe to impose collective sanctions on tax havens in a bid to halt the drain of trillions of dollars revenue to secretive offshore destinations.
“unwilling” US into a global effort to stamp out evasion costing $7 trillion a year by drawing up a tax haven blacklist and ensuring there were “no treasure islands for the money launderers”.
“If we are to ensure no hiding places for tax evaders, no safe haven for tax avoiders and no treasure islands for the money launderers who hide an estimated $7.5 trillion (5.2 trillion pounds) of global wealth, we need the automatic exchange of tax information worldwide,” he said.
( Source : PTI )
Next Story
