Financial Transparency Coalition

Some concluding thoughts on the G20/OECD BEPS process At last month’s G20 Leaders’ Summit in Antalya, Turkey, leaders of some of the world’s largest economies endorsed measures to plug loopholes in international taxation that allow transnational corporations to dodge taxes. But as drafting of the initiative, known as the Base Erosion and Profit Shifting (BEPS)

PRESS RELEASE G20/OECD plans on automatic exchange of financial information and corporate profit shifting well intentioned but miss the mark on inclusion Leaders of some of the world’s largest economies have given their final approval to plans to cut tax evasion and increase corporate transparency, yet countries most affected by tax dodging and illicit flows

Today, Transparency International (TI) has released a detailed and powerful report looking at how well the G20 countries are living up to the promises they made a year ago to tackle corporate ownership secrecy. As the leaders of the world’s biggest economies noted at the November 2014 Brisbane summit: Improving the transparency of legal persons

G20 governments including the US and China have failed to deliver on their promise to fight corruption by adopting laws to end the secrecy that makes it easy for the corrupt to hide their identity and shift money across international borders. As much as $2 trillion is laundered each year, much of it by hiding