Legal Business

Into the light

Still demonised by Western governments for aiding tax evasion, major offshore centres have in recent years ushered in substantive moves to bolster standards and transparency. Will it be enough?

Britain’s prime minister David Cameron wrote to the leaders of several UK Crown dependencies and British overseas territories in May, confirming his support of their low-tax status, but insisting they establish new rules that complement international initiatives against tax avoidance.