At G-20, Sarkozy Names Switzerland, Liechtenstein Among 11 ‘Tax Havens'

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French President Nicolas Sarkozy names 11 jurisdictions that he says the world's leading economies consider “tax havens,” because they have failed to adequately adopt or implement legal systems to allow tax information exchange and transparency. Sarkozy says a report to the G-20 fingers Antigua, Barbados, Botswana, Brunei, Panama, the Seychelles, Trinidad and Tobago, Uruguay, and Vanuatu as lacking legal systems that allow exchange of information for tax purposes. Sarkozy says the forum report named two more, Liechtenstein and Switzerland, that the forum judged had adequately implemented information exchange mechanisms that they have recently adopted. G-20 leaders sign a multilateral agreement aimed at fighting banking secrecy and tax evasion by improving tax information exchange and transparency.

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