Brown sets tax information deadline for British offshore jurisdictions

Following the G20 pledge to crack down on tax havens, the UK Government has written to relevant authorities threatening punitive action against its own dependencies. Brown acknowledges the progress made by overseas territories in committing to OECD standards of tax information sharing. However, in a letter to the British Virgin Islands, he writes: "Given the developments at G20 and, in particular, the identification of a tool box of sanctions which will be applied against those who do not meet the international standard, I urge you to achieve the standard of 12 TIEAs or equivalent arran...