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Tax Havens: British Overseas Territories

Volume 491: debated on Thursday 30 April 2009

To ask the Chancellor of the Exchequer what steps he plans to take to implement the commitments of the G20 Summit in respect of tax jurisdictions in overseas territories and Crown dependencies; what timetable has been set; and if he will make a statement. (271645)

The G20 called on all jurisdictions to apply the international standard of exchange of information in tax matters and resolved to take action against jurisdictions that failed to do so. All the UK's overseas territories and Crown dependencies have committed to meeting the standard. A report on progress is included in the interim report of the Foot review, published at the Budget:

http://www.hm-treasury.gov.uk/d/indreview_foot_review_progess_apr09__pu772.pdf

Where territories have been assessed by the OECD as not yet having substantially met the international standard, the Government will be working with those territories to help them achieve the standard as swiftly as possible.