G8 leaders agree tax evasion measures
Leaders of the G8 major economies have agreed new measures to clamp down on money launderers, illegal tax evaders and corporate tax avoiders.
They include requiring that shell companies – often used to exploit tax loopholes and invest money anonymously – identify their effective owners.
Governments also agreed to give each other automatic access to information on their residents’ tax affairs.
— Marvin Van Horn (@FATCA_Fallout) June 18, 2013