Thursday, October 23, 2008—Member countries of the Organization for Economic Cooperation and Development (OECD) met in Paris, France Tuesday for the "Conference on the Fight Against International Tax Evasion and Avoidance: Improving Transparency and Stepping-Up Exchange of Information in Tax Matters."

During the conference German Finance Minister Peer Steinbrueck called for Switzerland’s addition to the OECD “blacklist” of uncooperative tax havens while French President Nicolas Sarkozy called for tax havens to be banned.

The anti tax-haven sentiment expressed Tuesday is expected to set the tone for the upcoming UN Financing for Development Conference convening at the end of November in Doha to asses implementation of the 2001 Monterrey Consensus.

Additional Information:

OECD's list of uncooperative tax havens

Tax Haven Banks and U.S. Tax Compliance, July 2008 Senate Report

For More Information Contact

Monique Perry Danziger 202-293-0740

Global Financial Integrity recently competed a study in which it estimated capital flight out of the Democratic Republic of Congo. 

Read GFI Report

Listen to Excerpts from Monday's Event on Development Goals, Aid for Africa:

Secretary-General Optimistic About Development Goals in Africa

Success of MDG Africa Initiative Rests On Governments Willingness To Sustain Ownership of Development Goals: DSG

UN to Mobilize Support for Africa's Efforts to Achieve MDG's

GFI Applauds Senator and Democratic Presidential Candidate Barack Obama’s Pledge to Close Corporate Loopholes, Tax Havens

Washington, D.C. August 29, 2008 –Senator Barack Obama accepted the Democratic Party presidential nomination last night with a speech in which he stated that he would fund his agenda for domestic reform, including providing tax relief for working families, healthcare and investment in energy independence and education, by “closing corporate tax loopholes and tax havens.”

In a response to Senator Obama’s speech Global Financial Integrity (GFI) director Raymond Baker commented “Curtailing tax haven abuse and corporate tax evasion will net the Treasury hundreds of billions of dollars. Senator Obama’s pledge to address tax haven abuse sends a message that cheating the government will no longer be tolerated.”

Tax Havens, Evasion to be Target of Senate Hearings, Investigation

Contact: Monique Perry Danziger, 202-293-0740

Washington, D.C. July 16, 2008 – Global Financial Integrity (GFI) applauds the Senate Permanent Subcommittee on Investigations’ exploration into the role of offshore banks in U.S. tax evasion. The Subcommittee will be holding a hearing on “Tax Haven Banks and U.S. Tax Compliance,” Thursday, July 17th to investigate if and how financial institutions located in offshore jurisdictions, including Liechtenstein and Switzerland, facilitate illicit financial practices such as tax evasion.

“Tax evasion deprives the U.S. of tens of millions of dollars in uncollected revenue every year,” said GFI director Raymond Baker. “Money that is needed to pay for things like healthcare, education, and infrastructure is flowing abroad to offshore secrecy jurisdictions. It is time to tackle this illegal and detrimental practice.”

Witnesses expected to testify

Curtailing Hundreds of Billion Lost in Capital Flight Critical as Global Food, Poverty Crisis Looms, Says Global Financial Integrity

Contact: Monique Perry Danziger
202-904-3113

Washington, D.C., June 20, 2008— As rising food and fuel prices threaten to plunge millions of people in the developing world into abject poverty, Global Financial Integrity (GFI) urges curtailment of illicit capital flight as a crucial component of poverty alleviation and economic development efforts.

“We are at a critical junction in international development,” said GFI director Raymond Baker. “If we don’t do something effective now, many poor countries will actually lose ground which would undo decades of economic development and sabotage the chances of future generations to grow beyond the need for economic aid. "