The EU's five biggest economies have announced a deal to share information on secret ownership of trusts and businesses, following the Panama Papers scandal.
The automatic data exchange will take place between Britain, Germany, France, Italy and Spain and those countries are now calling on the entire G20 group of nations to do the same.
The leak of financial data from a Panamanian law firm exposed ways in which the world's wealthy and powerful have been keeping funds hidden.
Danny Cox of stockbroker Hargreaves Lansdown says it's a significant move.
IN: "Very much…
OUT: …sift through."
DUR: 32 seconds
http://www.fsnradionews.com/feeds/0416tax-cox1.mp3
The automatic data exchange will take place between Britain, Germany, France, Italy and Spain and those countries are now calling on the entire G20 group of nations to do the same.
The leak of financial data from a Panamanian law firm exposed ways in which the world's wealthy and powerful have been keeping funds hidden.
Danny Cox of stockbroker Hargreaves Lansdown says it's a significant move.
IN: "Very much…
OUT: …sift through."
DUR: 32 seconds
http://www.fsnradionews.com/feeds/0416tax-cox1.mp3