http://www.bloomberg.com/news/2014-10-29/bank-data-sharing-accord-expands-push-to-find-tax-cheats.html
Governments are closing in on tax evaders with a data-sharing agreement that broadens efforts by the U.S. and the five biggest European Union economies to at least 50 countries and territories.
The accord to be signed by finance ministers in Berlin today signals global determination by governments to capture tax revenue after the U.S. pursued banks such as Credit Suisse for helping Americans cheat on their taxes and German authorities bought CDs containing stolen bank data.
“It’s really the beginning of the end” of bank secrecy, Pascal Saint-Amans, head of the Organization for Economic Cooperation and Development’s center for tax policy and administration, said in a phone interview.
Joining today’s pledge to automatically exchange data collected by financial institutions are most EU countries, Liechtenstein, Mexico, Argentina, South Korea and jurisdictions such as Bermuda, the Cayman Islands and the Isle of Man. Ministers from Germany, France, the U.K., Italy and Spain are presenting the accord at a news conference at 3:30 p.m. Berlin time.
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