OffShore Banking
Friday, May 3, 2013 @ 8:08 PM
David Cameron has offered Spain information on banking clients in offshore islands
David Cameron has offered Spain information on banking clients in the Virgin Islands, Bermudas and Caiman, the Turks and Caicos Islands, the Isle of Man, Anguilla, and Monserrat.
The Spanish media are describing this as ‘a small grand step’ towards the ending of the opacity in financial havens.
Last Wednesday the Chancellor, George Osborne, said the off-shore territories were working closely together in the fight against tax evasion, and that this agreement would allow Britain to share the information with Germany, France, Italy and Spain, the four countries which have been fighting fiscal fraud for a year.
Spain has noted that Jersey and Guernsey are not on the list, having refused to take part in the exercise.
There is one difference in reports from the UK and Spain about what the Chancellor said. The UK reports don’t mention Gibraltar, but the Spanish reports do.