G20 nations to take counter measures against tax havens from March 2010 India News and Travel Times Provides India-centric and other News and Features

In order to prevent money laundering and terror financing, G20 countries have decided to take counter measures against non-cooperative tax heavens from March 2010. Following up on the decisions taken at the summit in April, the meeting of G20 finance ministers, including India , finalized the steps that could enable governments to extract information from such tax havens. A resolution adopted at the end of the meeting decided that the nations would “deliver an effective programme of peer review, capacity building, and counter measures to tackle non cooperative jurisdiction that failed to make regulatory standards, anti-money laundering/ combating financing of terrorism." British Chancellor Alistair Darling told reporters that the measures would also include information exchange standard, stand in ready-to-use counter measures against tax havens from March 2010.