Britain is showing signs of improving tax transparency in its overseas territories. According to recent huge data leaks, Caribbean archipelago was a major global hub for money laundering and tax evasion. Huge recent data leaks, including the FinCEN files and the Panama Papers, showed that the Caribbean archipelago was a major global hub for money laundering and tax evasion. Concerns remainAlex Cobham, from the global Tax Justice Network (TJN) research and analysis group, said although BVI's commitment to publish records was welcome, it would have little effect. LobbyingMeanwhile, the Cayman Islands saw itself removed from the European Union's blacklist of tax havens on Tuesday.

Source: News 24 October 11, 2020 07:07 UTC