OECD plans welcomed

Friday 11th September 2009, 3:00PM BST.

Chief Minister Terry Le Sueur

OECD plans to bring an end to banking secrecy laws around the world have been welcomed by Chief Minister Terry Le Sueur.

The Organisation for Economic Co-operation and Development recently held a global conference in Mexico about the fight against tax evasion and banking secrecy.

And agreements reached at the conference to end banking secrecy – a key part of Switzerland’s banking system – and establish a global forum to monitor compliance with Tax Information Exchange Agreements have been welcomed in Jersey.

‘This is good news for the Island,’ said Senator Le Sueur. ‘Jersey firmly supports the OECD drive to achieve a level playing field in tax co-operation, including an end to the bank secrecy laws that exist in other jurisdictions.’

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