Deadline for tax havens now 2002
12 April 2012
THE deadline for tax havens to clean up their act has been extended. The Organisation of Economic Co-operation and Development published a blacklist of 35 havens in June 2000.
Those on the list - which included Gibraltar, the Channel Islands and Monaco - were said to be harming world trade by sheltering tax dodgers. OECD officials gave them until July this year to agree steps to end tax evasion. They have now stretched the timetable to the end of next February.
Gabs Mahklouf, a senior UK tax official who chairs the OECD's Committee on Fiscal Affairs, said 11 countries - including the Isle of Man, Malta and Cyprus - have agreed reforms. He said attempts to trace terror funds had improved the climate for his campaign.
