No Hiding Place For Tax Havens
Not long ago offshore tax havens were buzzing with activity for high net worth individuals around the world.
Next came the US and EU who were intend on capturing evaders. The UBS case in the United States was a marked turning point for the war on global tax.
The most recent beneficiary country to succumb to international pressure is Luxembourg who will now share banking details of accounts to foreign governments.
While terrorism is often a key striking point along with money laundering, the crux of the matter is the continued global financial malaise has nearly every country trying to balance their budgets.