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.

@ChrisCoons This must please you. #G8 agrees to clamp down on corporate tax evasion http://t.co/vRvNAn4UjJ #FATCA is now targeting Delaware

— Marvin Van Horn (@FATCA_Fallout) June 18, 2013