Ethics and governance in the European Financial centers

Martin De Forest-Brown, director of international finance for the Chief Minister's Department in Jersey, recently published an article that is worth commenting.

The title was : "Don't demonise Jersey, it stands with the good guys on regulation".

To comment the list the list published by the OECD in April, he observes: "Jersey qualified as a jurisdiction that had substantially implemented the internationally agreed tax standard alongside the UK, US, Germany and France. But Austria, Luxembourg, Belgium and Switzerland, alongside Liechtenstein, Panama and Singapore did not. "

Luxembourg and the other jurisdictions that did not qualify in April will appreciate. But Luxembourg is now using the same communication as Jersey.

The point is the effectiveness of the exchange of information based on the OECD tax model.

The figures demonstrates it does not work.

Read Richard Murphy to know more