And to continue with another song:
Duh-duh-dun-dun-dun, another one bites the dust.
Switzerland, the world’s largest offshore financial centre, has agreed to accept concessions on bank secrecy.
Andorra, Liechtenstein, Austria and Luxembourg have also just agreed to sign up to the OECD rules.
That’s a shame. The Swiss managed to keep their secrecy through the depression, a series of wars enveloping them and fifty years of relentless pressure by greedy tax departments* from all over the world. But now they’ve caved. As have other countries. And just this week Jersey signed a deal to be more ‘cooperative’ with Her Majesty’s Revenue and Customs.
So people with a (perfectly sensible) desire not to pay nearly fifty percent of everything they ear to a bunch of wasteful feckers are just going to have to kick in with proper criminal schemes. Oh well.
* – some redundancy here, do you think?