Financial Transparency Coalition

For companies that use transfer pricing to avoid paying tax, news that country-by-country reporting is on the agenda of a meeting of G20 finance ministers in Berlin next week is bad news.

Washington - President Obama introduced his plan to reform financial regulations yesterday as a key to reviving the economy, setting up an intense battle over the particulars that is likely to rage on Capitol Hill for the rest of the year.

Chile's bid to be the first South American member of the Organization for Economic Cooperation and Development by the end of this year could be dashed if lawmakers don't change bank secrecy laws ''as soon as possible,'' the OECD's legal chief said.

For more than half a century the Alpine nation of Switzerland has built a reputation as the world´s centre for tax evasion, fraud accounting, money laundering, racketeering, save haven and above all a staunch ally of corrupt third world leaders and a great beneficiary of third world corruption. For more than 70 years various categories of persons including Popes, presidents, prime ministers, corrupt dictators, wealthy business men, and drug dealers have all used and benefited from the banking secrecy laws of Switzerland. As a result her economy has been described in various terms as underground economy, deposit box for...