G-20 Nations Agree To Crack Down On Tax Havens

By: Associated Press Email
By: Associated Press Email

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Thursday, April 2, 2009

French President Nicholas Sarkozy says the Group of 20 nations will push for the publication of a blacklist on tax havens.

Sarkozy and British Prime Minister Gordon Brown said on Thursday that Organization for Economic Cooperation and Development would circulate a name-and-shame list of countries that serve as tax havens.

Sarkozy says "the time of banking secrecy has passed." Sarkozy has advocated tougher rules against tax havens in the London talks of G-20 nations.

Brown says the list could be available later Thursday.

British ministers have said it is unlikely a list would be published immediately to allow some nations to agree to boost transparency.

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