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The end of banking secrecy? 34 countries commit to automatic exchange of information

The age of banking secrecy used for tax evasion is coming to an end according to the Organisation for Economic Co-operation and Development (OECD), as all 34 member countries and financial centres – including Singapore and Switzerland – agree to automatic exchange of information between jurisdictions. The members endorsed the ‘Declaration on Automatic Exchange of Information in Tax Matters’ at…

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