Non-compliant tax havens risk sanctions

German finance minister Peer Steinbrueck and French budget minister Eric Woerth said countries that do not comply with the Organisation for Economic Cooperation and Development (OECD) standards of transparency and information sharing risk sanctions. France and Germany spearheaded the campaign to combat tax evasion last October, bolstered by G20 leaders who agreed to step up pressure on tax havens, with the OECD publishing a "grey list" of jurisdictions which have not yet implemented tax standards. Conference participants from the UK, Switzerland, Austria and Luxembourg agreed countrie...