Will tax amnesties halt evasion?

July 22nd, 2009

Swiss banks may again feel the pressure of large cash withdrawals in a short space of time as Italy and Britain plan another round of tax amnesties.

Critics argue that amnesties fuel rather than restrain tax evasion because they allow offenders to get off the hook. But some observers believe a combined crackdown on banking secrecy and amnesties could this time hurt havens.

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