It isn't only rich countries that suffer from the effects of tax havens. Developing countries also lose billions of dollars in tax revenues due each year because wealthy individuals and some companies use tax havens to move assets and income offshore.

If we can rid the world of financial centres that thrive on lack of transparency, non-cooperation, and weak regulation, an important step towards a fairer and cleaner world economy will have been achieved.

Transparency and effective tax co-operation must be shared principles applied by all. Until they are, nations will need to protect themselves against loss of revenues to tax havens.

Jose Angel Gurria Quotes