tax havens

David Cameron. Photo: EPA

Cameron urges overseas tax havens to help fight levy evasion

British Prime Minister David Cameron wrote to the leaders of overseas tax havens yesterday, urging them to help Britain's efforts to fight tax evasion and avoidance. Cameron sent a letter to 10 British crown dependencies and overseas territories regarding the "critical" issues of tax information exchange and beneficial ownership, a practice which uses a nominal third-party resident in a low-tax state to shield income from taxation.