Financial Transparency Coalition

We, the G8 Finance Ministers, remain focused on addressing the ongoing global economic and financial crisis. We have taken forceful and coordinated action to stabilize the financial sector and provide stimulus to restore economic growth. There are signs of stabilization in our economies, including a recovery of stock markets, a decline in interest rate spreads, improved business and consumer confidence, but the situation remains uncertain and significant risks remain to economic and financial stability.

Anti-corruption watchdog, Transparency International UK, published this June 2009 report that delves deep into the complex web of legal and regulatory armoury the UK employs to counter money laundering.

This report by Gideon Benari describes, in plain language, the technical processes and structures of two commonly used tax avoidance schemes – transfer pricing and outward domestication. Both involve multinational corporations shifting profits across borders.

Start Date: June 24, 2009 End Date: June 25, 2009 Location: OECD Conference Center, Paris Description: This is the first time that Korea, which joined OECD in 1996, will chair an OECD Ministerial Council Meeting.