I’m so proud!!! As reported by BBC and the star newspaper
Seriously the one time this island gets any international fame and it has to be as a tax haven for corrupt people, swell.
As quoted by the star,
LONDON: Four nations were blacklisted as uncooperative tax havens after G-20 leaders declared the age of banking secrecy was over and said they would no longer tolerate shady havens draining away badly needed tax revenue.
At the request of the Group of 20 summit of rich and developing nations, the Organization for Economic Cooperation and Development named the Philippines, Uruguay, Costa Rica and the Malaysian territory of Labuan as the worst offenders, saying they had refused to adopt new rules on financial openness.
No doubt our newly “elected” PM will have something to say about this. Quoted here from BBC’s article of him “complaining”
Malaysian Prime Minister Najib Razak said that his country should not be on the blacklist at all.
“We should not be in that category as, in practice, we have been committed to OECD requirements,” he said in a statement.
Will he do anything about it? Hell no, else it would allow anyone to find out how much dirty money been stashed away.