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  • The Avanti Group Review Articles: G20 could step up fight against tax evasion

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    the avanti group review articles, G20 could step up fight against tax evasion

    WASHINGTON: The Group of 20 leading economies could step up the battle against tax evasion using offshore accounts in its meetings on Thursday and Friday, officials said.

    The G20 is expected to weigh endorsing a global effort to force banks to automatically share information with countries seeking to tax their nationals holding secret offshore accounts — an effort that could deal a blow to tax havens like the Cayman Islands, Hong Kong, Switzerland and others.

    It remained unclear how far the G20 will go. At least the United States and France are said to be hoping for a strong endorsement.

    But even continued discussion will confirm how far a once-disdained effort by the United States alone to collect taxes on US nationals’ offshore accounts has expanded and gained support among other major economies, especially those facing large holes in their budgets.

    “The issue is to go as far as possible,” said one European official, speaking on condition of anonymity.

    the avanti group review articles, G20 could step up fight against tax evasion

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