Wednesday, February 11, 2015

UK Opposition Leader Issued Letter to UK Overseas Territories

The leader of the UK Opposition Ed Miliband issued a letter to the leaders of British overseas territories, including the British Virgin Islands, Anguilla, Bermuda, the Cayman Islands, and others, where he said they would have six months to make a public register of offshore companies, in order not to be put on an international blacklist of countries that refused to take measures against tax avoidance.

Mr. Miliband said: "If any Overseas Territory or Crown Dependency does not meet this deadline, we will ask the Organisation for Economic Co-operation and Development to put them on the OECD's tax haven blacklist."

The plan of the leader of the Labour Party was criticised by Conservative Treasury minister David Gauke who said: "the UK is the only country in the OECD committed to a public central register. He wants the OECD to blacklist countries if they don't do the same as us. But that would mean blacklisting every single country in the OECD apart from the UK – countries like the US, France and Germany.”

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