Ethics and governance in the European Financial centers

The Tagesanzeiger has published a fragment of the OECD of jurisdictions which have made insufficient progress in the implementation of international tax standards at 5 March 2009.

Many jurisdictions said last week they were to relax their banking secrecy.

But
- banking secrecy is only one criterion,
- and these jurisdictions cannot be trusted on press releases.

To be definitely removed from a list (grey or black with a strict monitoring and an update of lists regularly) they have to demonstrate that they actually complies with international tax standards.

The difference between enacting and enforcing/implementing.


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