The Government has given offshore tax dodgers one last chance to come clean before it implements a new, tougher penalty regime with onerous fines for those who are caught out.The Organisation of Economic Co-operation and Development (OECD) set out a framework for sharing tax information in 2000. This said that banking information should be available on request, where it is relevant to the domestic laws of a treaty partner.
Some tax havens, including Singapore, Andorra, Liechtenstein and Switzerland, were reluctant to sign up to the proposals. Full Story
