Global: Promised transparency measures must be enforced to have real impact, says Transparency

The Group of 20 leading economies (G20) have called on 11 secrecy jurisdictions to substantially increase their cooperation on tackling tax evasion, but failed to address the main users of tax havens by not committing to mandatory country-by-country reporting by multinational companies, says Transparency International. 'Non-cooperative jurisdictions offer safe havens for the proceeds of corruption, tax evasion and organised crime. Greater transparency in the activities of multinational companies (in every country they operate in) would reduce opportunities for hiding the proceeds of illegal activity that ends up in tax havens.'