Tax Haven Tag on Quartet

7 years, 4 months ago - November 26, 2013
A worldwide crackdown on illicit funds has left just four jurisdictions — Cyprus, Luxembourg, Seychelles and British Virgin Islands — non-compliant with global tax laws, while Mauritius has emerged as “largely compliant”.

India has been found to be “fully compliant”, while Switzerland is yet to be rated as the country has just signed a global convention on automatic exchange of information on tax issues.

In India, Switzerland has been widely perceived as a favoured safe haven for alleged black money, while Mauritius in recent years has also come to be known as a major hub for flow of untaxed funds.

According to the list by Paris-based Organisation for Economic Cooperation and Development, 18 jurisdictions are rated “compliant”, 26 “largely compliant”, two “partially compliant” and four “non-compliant”.

 

Text by Le Matinal

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