The Swiss Finance Ministry has announced that it will hold a tripartite forum with Luxembourg and Austria to discuss the G20’s meetings on ‘tax havens’, and the implications of a new blacklist of unco-operative jurisdictions.
Swiss President Hans-Rudolf Merz will hold the meetings, in his capacity as Finance Minister, with his respective counterparts on March 8. The meeting will take place in Luxembourg and will serve primarily to coordinate points of common interest of the financial centres in the international environment. The talks will cover a range of issues including the debate surrounding a possible blacklist of so-called `tax havens'.
The concept of what constitutes an ‘unco-operative jurisdiction’ or tax haven, has yet to be fully defined by members of the G20, but it has raised significant concerns amongst offshore territories as to its implications. Whether the test will feature specific criteria, or simply require that a jurisdiction be deemed to have had a significant impact upon the tax revenues of wealthier nations, is not yet clear.
It is thought that a list of ‘unco-operative jurisdictions’ will be named ahead of the G20 summit, in the coming weeks.
A comprehensive report in our Intelligence Report series examining offshore confidentiality is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report1.asp
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