Tax haven activity 'rife', despite g20 crackdown promise

The index, drawn up by Christian Aid and the campaign group Tax Justice Network, lists 72 leading countries and financial jurisdictions that offer financial services, and ranks them according to the volume of international business they deal with and the level of secrecy their clients enjoy.

Alex Cobham, the chief policy adviser at Christian Aid, said: "Disappointingly, given that the G20 group of governments committed in London to eradicate tax havens, the findings show that more secretive jurisdictions have actually increased their share of business, and more jurisdictions now offer greater secrecy.

"Switzerland's place at the top of the Index tells us something about the nature of the tax regime with which the British Government has shown it is prepared to do business.

"The authorities here are apparently happy with a deal in which Britons with secret Swiss bank accounts become liable to some tax without having to disclose their identities."

Source: Telegraph.co.uk