London, September 06: Finance Ministers of G20 countries, including India, on Saturday decided to take counter measures against tax havens, particularly the non-cooperative ones, to prevent money laundering and terror financing from March next year.
Following up on the decisions taken at the G20 summit here in April, the meeting decided on steps that could enable governments get information from such tax havens.
A resolution adopted at the end of the meeting decided that the nations would “deliver an effective programme of peer review, capacity building, and counter measures to tackle non cooperative jurisdiction that failed to make regulatory standards, anti-money laundering/combating financing of terrorism.”
The measures would also include information exchange standard, stand in ready-to-use counter measures against tax havens from March 2010, British Chancellor Alistair Darling told reporters at the end of the meeting.
–Agencies