Italy signs agreement to limit offshore tax evasion

Italy has made a crucial move in an attempt to reduce offshore tax evasion, under which countries considered to be tax havens may sign information exchange agreements and secure reduced penalties in disclosing taxes.

UK first to commit to country-by-country tax reporting

The UK is the first of 44 countries to formally commit to implementing the new country-by-country reporting template introduced by the OECD (Organisation for Economic Co-operation and Development) to start automatically exchanging tax information in an effort to eliminate global tax evasion.