Financial Transparency Coalition

New York Times -- A wealthy UBS private banking client who owns a building material company in New Jersey pleaded guilty on Friday to tax evasion, the fourth American caught in a widening investigation into the giant Swiss bank over its offshore services.

According to a leaked draft communique, the G20 will be proposing more sanctions on tax havens. According to the Times of London:

The G20 summit in Pittsburgh is expected to announce a further clamp down on tax havens, according to a draft of the group’s communiqué.

Keep your fingers crossed!

GEORGE TOWN, Cayman Islands - Caribbean and Atlantic offshore finance centers are hitting back against attempts to portray them as shady tax havens and say world leaders are making them scapegoats for the global downturn.

Global Financial Integrity has just released a statement highlighting the good and bad aspects of the new Swiss-US tax treaty that was released this week. While the treaty takes a major step forward from the OECD model by explicitly stating that domestic laws do not trump the treaty, it fails to address the problems posed by exchange of tax information upon request. Check out GFI's full statement below:

Information Exchange Shortcomings in U.S.-Swiss Tax Agreement

New protocol signed Wednesday does little to enhance U.S. ability to...