Cayman & Bermuda rapped over tax
Friday 12 November 2010 - by Will Henley
Eighty countries have now implemented international tax evasion standards, according to figures released by the Organisation for Economic Co-operation and Development.
Despite their "deficiencies", Bermuda, Cayman and Monaco have implemented the OECD tax standard, the report notes.
In his presentation, Padoan added that the OECD estimates that Germany has collected some €4 billion from offshore evaders. France has collected an extra €1bn ($1.3bn), Italy €5bn ($6.8bn) and the UK €600m ($821m).
He said that the OECD intends to complete 70 reviews of countries by the next 2011 summit.
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