Overview

A new financial puritanism is in the air. Offshore financial centres – often referred to colloquially as tax havens – have found themselves on the back foot, with many announcing new measures to assuage public concerns and protect a lucrative source of revenue.

This briefing sets out the background to the G20 summit of world leaders in London on 2 April 2009, which is expected to agree a ‘blacklist’ of tax havens that will be subject to co-ordinated international action unless they comply with accepted standards of disclosure and financial regulation.

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