Secrecy Jurisdictions Lobbying to Weaken U.N. Statement on Tax Sharing: Advocacy Group

By Matt Squire

Bank secrecy jurisdictions have lobbied behind the scenes to weaken a United Nations call for greater international cooperation on tax evasion expected to be issued this week, say tax policy analysts. The intergovernmental organization, currently holding a three-day conference on the impact of the global economic slowdown on development, is honing a statement on how nations share information in tax investigations. The United Nations released a draft statement ahead of the summit and is expected to release final recommendations on Friday. Comparisons between early drafts circulated at the U.N. and the latest version of the statement "definitely" show that tax...